Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which budget approach is described for each scenario? Choose from the options below Line item budget Responsibility Center budget Performance budget Flexible budget Program budget

Which budget approach is described for each scenario? Choose from the options below

  1. Line item budget
  2. Responsibility Center budget
  3. Performance budget
  4. Flexible budget
  5. Program budget

1. A budget is broken up by department. Because the social services department performed well on its metrics for evaluation relative to the police department in FY 19-20, it received additional for the next year, FY 20-21. Which budget approach is this? Choose from options A-E.

2. A nonprofits budget is separated by its three programs. The non-profit assess program performance, compare costs, revenues, and ROI across programs and assess the costs vs revenues of each program. Which budget approach is this? Choose from options A-E.

3. A public organization uses Xbudget approach to analyze the costs depending on how many people participate in their readiness program. If more people participate for a given fee, the budget will vary given all the other revenues and expenditures that are tied to how many people participate including revenue from participation fees, cost of materials, space rental, etc.Which budget approach is this?Choose from options A-E.

4. A shelters budget includes a line for all the salaries of employees, the rent for the shelter space, the expenses for food and water purchases, and capital. It is not separated by specific program in the shelter, but instead includes the costs for each category broadly for the entire organization. Which budget approach is this? Choose from options A-E.

5. The director of the Emergency Preparedness program in a larger nonprofit oversees a specific budget regarding the costs and revenues for the Emergency Preparedness program only, not any of the other programs like Literacy, etc. Which budget approach is this? Choose from options A-E.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance An Integrated Planning Approach

Authors: Ralph R Frasca

8th edition

136063039, 978-0136063032

More Books

Students also viewed these Finance questions