Time left 0:23:53 How can a management accountant reconcile budgeted profits with the actual figures? Question 26 Not yet answered Marked out of 2.0 Flag question O a By adding both favourable and adverse variances to budget profits. O b. By subtracting all favourable variances from budgeted profits. Oc By adding all favourable variances and subtract all adverse variance from budgeted profits. od. By adding all unfavourable variances to budgeted profits. Question 27 Not yet answered Atrill & McLaney (2019) say a budget is a financial plan for a future period of time". How does such a plan differ from a forecast? Marked out of 20 Flag question O a A plan is an intention to achieve. A forecast is a statement of what is expected to happen without the intervention of management, O b. Both of these deal with risky future situations, so there is no difference between a plan and a forecast A plan is something that must be approved by management. A forecast is something that will happen anyway Oc O d. A forecast always has a clear probability of risk attached. A plan never includes a clear probability of risk Time Welt 0:22:18 Which of the following is NOT a difference between Feedback (FB) and Feedforward (FF) Budgetary Control System? a 28 Noty answered Med out of 20 Ob Flag Question O a Use of historical book valuations for FB and update of regular market announcements for FF Periodic monitor of performance metrios for FB and the continuous monitor of lead indicators for FF The reports are usually presented in a quarterly Business Review for FB and in a Dally Strategic Dialogue for FF Od. The nature of the Budget is flexible for FB and Fixed for FF Question 29 is used as an indicator of risk? Not nerd Marked out of 20 Financial risk is the possibility of losing your hard earned cash. In investing. O a Standard Deviation Ob Expected Return Oc Standard Costing Od Expected Costs Flag Question Question 30 Note The business model of Virgin Media describes O The amount of tax relief received from the government Maned out of Flag Question O b. How value is created for key customers e New deals that are negotiated with main partners Od The financial position of its stakeholders