Homework Answers
Solution:
Most companies use "Participative Budgeting" when the lower level management develops budgets each year..
Hence option D is correct.
Add Answer to:
most companies use____when the lower level manager develops
budge
when the lower level management develops budgets...
Listed next are several terms. Complete the following statements with one of these terms. You may use a term more than...
Listed next are several terms. Complete the following statements with one of these terms. You may use a term more than once, and some terms may not be used at all. Master budget Participative budgeting Operating budgets Production budget Zero-based budgeting Strategic planning Financial budgets Slack Budget committees Rolling budget Safety stock Variance a. ▼ Budget committee Financial budgets Master budget Operating budgets Participative budgeting Production budget Rolling budget Safety stock Slack Strategic planning Variance Zero-based budgeting is a budget...
Which of the following is a reason why budgets in multinational companies are not used to evaluate the firm's perfo...
Which of the following is a reason why budgets in multinational companies are not used to evaluate the firm's performance relative to its budgets? 0 A. 0 B. Evaluations based on budgets can be meaningless due to factors such as exchange rate risk and other volatility. Evaluations based on relative regional performance are considered more meaningful as compared to evaluations against budgets. ° C. Evaluations based on budgets are harder when managers use sophisticated techniques to minimize foreign currency exposure....
Budget top down budget budgetary control Select each of the terms with the best description of...
Budget
top down budget
budgetary control
Select each of the terms with the best description of its purpose. Terms Budgeting Definitions 1. Planning future business actions and expressing them as formal plans 2. A comprehensive business plan that includes operating investing, and financing budgets 3. Employees who will be evaluated by a budget help prepare it 4 Shows expected cash inflows and outflows and helps determine financing needs 5. An approach that requires all expenses to be justified for each...
Budgetary Slack with Ethical Considerations Karen Bailey was promoted to department manager of a production unit...
Budgetary Slack with Ethical Considerations Karen Bailey was promoted to department manager of a production unit in Parkway Industries three years ago. She enjoys her job except for the evaluation measures that are based on the department’s budget. After three years of consistently poor annual evaluations based on a set annual budget, she has decided to improve the evaluation situation. At a recent budget meeting of junior-level managers, the topic of budgetary slack was discussed as a means to maintain...
The budget committee consists of a. senior managers, including the CEO and CFO. b. representatives from...
The budget committee consists of a. senior managers, including the CEO and CFO. b. representatives from the stockholders and suppliers. c. a company's stockholders. d. all employees interested in providing input to the budgeting process. 1 points Question 2 Which of the following is not typically a part of the master budget? a. Direct material purchases budget b. Performance report budget c. Projected cash receipts and disbursements d. Budgeted balance sheet 1 points Question 3 Managers may be tempted to...
QUESTION 16 Which of the following can be a problem with participative budgeting? Budget-based incentives lead...
QUESTION 16 Which of the following can be a problem with participative budgeting? Budget-based incentives lead to incorrect information about projected costs and sales (budgetary slack) being communicated to higher level management. All the other answers. Production budgets are established based on unrealistically low sales forecasts, leading to production being short of materials and labor. Conflicts of interest when lower level managers are evaluated by comparing actual results to the budget. 2 points QUESTION 17 Which component of the...
(TCO 8) Which of these is more characteristic of a manager? Develop new processes Originate State...
(TCO 8) Which of these is more characteristic of a manager? Develop new processes Originate State a position Focus on people (TCO 7) Which of these behaviors is best for managing an intercultural project team? Learn alternative means of exchanging information. Classify members of the project team in accordance with popular stereotypes. Foster an atmosphere of inclusivity by ignoring cultural differences. Enter the situation with no knowledge of the local culture and customs to avoid any appearance of bias. (TCO...
THE AUTOCRATIC MANAGER: The plant manager of a paper mill has contacted your consulting firm to...
THE AUTOCRATIC MANAGER: The plant manager of a paper mill has contacted your consulting firm to help diagnose why production has dropped in the last 18 months. Moreover, he wants a proposal from your firm on what can be done to turn things around. The partial organization chart indicates there are seven levels of management and the mill employs 410 people. This mill is a key one in a company that has many mills located throughout the country. The manufacturing...
Consider the following statements about zero-base budgeting: I. The budget for virtually every activity in an...
Consider the following statements about zero-base budgeting: I. The budget for virtually every activity in an organization is initially set to the level that existed during the previous year. II. The budget forces management to rethink each phase of an organization's operations before resources are allocated. III. To receive funding for the upcoming period, individual activities must be justified in terms of continued usefulness to the organization. Which of the above statements is (are) true? A. II only. B. III...
True/False Questions worth 2 pts each. 1. Self-imposed budgets prepared by lower-level managers should be scrutinized...
True/False Questions worth 2 pts each. 1. Self-imposed budgets prepared by lower-level managers should be scrutinized by higher levels of management 2. Budgets are used to plan and to control operations. 3. Fixed costs should be ignored when evaluating how well a manager has controlled costs. 4. A flexible budget can be used to estimate what revenues and costs should have been given the actual level of activity for the period. 5. An unfavorable spending variance may reflect waste as...
Which of the following is a reason why budgets in multinational companies are not used to evaluate the firm's performance relative to its budgets? 0 A. 0 B. Evaluations based on budgets can be meaningless due to factors such as exchange rate risk and other volatility. Evaluations based on relative regional performance are considered more meaningful as compared to evaluations against budgets. ° C. Evaluations based on budgets are harder when managers use sophisticated techniques to minimize foreign currency exposure....
Budget
top down budget
budgetary control
Select each of the terms with the best description of its purpose. Terms Budgeting Definitions 1. Planning future business actions and expressing them as formal plans 2. A comprehensive business plan that includes operating investing, and financing budgets 3. Employees who will be evaluated by a budget help prepare it 4 Shows expected cash inflows and outflows and helps determine financing needs 5. An approach that requires all expenses to be justified for each...
True/False Questions worth 2 pts each. 1. Self-imposed budgets prepared by lower-level managers should be scrutinized by higher levels of management 2. Budgets are used to plan and to control operations. 3. Fixed costs should be ignored when evaluating how well a manager has controlled costs. 4. A flexible budget can be used to estimate what revenues and costs should have been given the actual level of activity for the period. 5. An unfavorable spending variance may reflect waste as...
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