Which of the following statements concerning the minimum level approach to budgeting is true? A. The...
Which of the following statements concerning the minimum level approach to budgeting is true?
| A. |
The minimum level approach to budgeting budgets costs for a coming period as a dollar or percentage change from the amount budgeted or spent in some previous period. |
|
| B. |
The minimum level approach to budgeting establishes a base amount for all budget items and requires explanation or justification for any budgeted amount above that level. |
|
| C. |
The minimum level approach to budgeting budgets physical inputs and costs as functions of planned activity. |
|
| D. |
The minimum level approach to budgeting has been more widely used in government than in business organizations. |
Homework Answers
Answer: Option B(Minimum level budgeting approach only concenrs with those amounts which go beyond minimum level. Next to minimum level budget is zero based budget)
Add Answer to:
Which of the following statements concerning the minimum level
approach to budgeting is true?
A.
The...
Indicate whether the following statements are true or false: 1. A budget is a formal written...
Indicate whether the following statements are true or false: 1. A budget is a formal written statement in financial terms of management's plans for a specified future time period. A budget is prepared only once a year. 2. 3. A budget requires all levels of management to plan ahead and to formalize goals on a recurring basis. 4. The budget is an important basis for evaluating performance. 5. The "top-down" approach to budgeting is called participative budgeting. 6. Budgeting and...
DQ2: Both the budget process and budgets themselves can impact management actions, both positively and negatively....
DQ2: Both the budget process and budgets themselves can impact management actions, both positively and negatively. For instance, a common practice among not-for-profit organizations and government agencies is for management to spend any amounts remaining in a budget at the end of the budget period, a practice often called "use it or lose it." The view is that if a department manager does not spend the budgeted amount, top management will reduce next year's budget by the amount not spent....
Both the budget and the budgets themselves can impact management actions, both positively and negatively. For...
Both the budget and the budgets themselves can impact management actions, both positively and negatively. For instance, a common practice among not-for-profit organizations and government agencies (and The Office) is for management to spend any amounts remaining in a budget at the end of the budget period, a practice often called “use it or lose it”. The view is that if a department manager does not spend the budgeted amount, top management will reduce next year’s budget by the amount...
Which of the following statements is NOT correct concerning the Manufacturing Overhead Budget? Multiple Choice The...
Which of the following statements is NOT correct concerning the Manufacturing Overhead Budget? Multiple Choice The Manufacturing Overhead Budget provides a schedule of all costs of production other than direct materials and labor costs. The Manufacturing Overhead Budget shows only the variable portion of manufacturing overhead. The Manufacturing Overhead Budget shows the expected cash disbursements for manufacturing overhead. The Manufacturing Overhead Budget is prepared after the Sales Budget. The basic idea underlying responsibility accounting is that a manager should be...
Both the budget process and budgets themselves can impact management actions, both positively and negatively. For...
Both the budget process and budgets themselves can impact management actions, both positively and negatively. For instance, a common practice among not-for-profit organizations and government agencies is for management to spend any amounts remaining in a budget at the end of the budget period, a practice often called “use it or lose it.’’ The view is that if a department manager does not spend the budgeted amount, top management will reduce next year’s budget by the amount not spent. To...
Both the budget process and budgets themselves can impact management actions, both positively and negatively. For...
Both the budget process and budgets themselves can impact management actions, both positively and negatively. For instance, a common practice among not-for-profit organizations and government agencies is for management to spend any amounts remaining in a budget at the end of the budget period, a practice often called “use it or lose it.’’ The view is that if a department manager does not spend the budgeted amount, top management will reduce next year’s budget by the amount not spent. To...
Match the following budget related terms with its proper description. Terms: budgetary slack, budgeted financial statements,...
Match the following budget related terms with its proper description. Terms: budgetary slack, budgeted financial statements, incremental budgeting, activity-based budgeting, life cycle budget, sales budget, cash budget, zero-based budgeting 1) would be appropriate for a project manager to use for a project to remodel the President's office 2) Some managers increase their projected expenses in order to create this margin for their performance measure 3) These are the result of the budget process and show pro forma figures 4) Some...
True / False Questions: 1. The flow of input data for budgeting should be from the...
True / False Questions: 1. The flow of input data for budgeting should be from the highest levels of responsibility to the lowest True False 2. The master budget reflects management's long-term plans encompassing five years or more True False 3. The starting point when budgeting for a not-for-profit organization is generally to budget expenditures first True False The manufacturing overhead budget generally has separate sections for variable, mixed, and fixed costs True False 5. The budgeted income statement indicates...
0. A company developed a standard cost for overhead. Which of the following involves standard development...
0. A company developed a standard cost for overhead. Which of the following involves standard development procedures that are similar to developing overhead standard costs? a. predetermined overhead rates b. Budgeted direct labor costs c. standard costs for materials d. total number of units to be produced 11. Which of the following may be cause an unfavorable material variance? 1. more material was used than planned 2. A company paid a higher price for materials than expected 3. More materials...
Breve than ot try to KEY TERMS TED on into food and are compon planned and...
Breve than ot try to KEY TERMS TED on into food and are compon planned and actual expenditures Test your recall of the assistance. If you need 1. Ain) BUDEL 2. Ain) convenis provides mor e 3. The usually involving at least five years. need as farms as follows. Try to recall as many key terms as possible without assistance, refer to the list of the terms at the end of this section is a plan of action expressed in...
Indicate whether the following statements are true or false: 1. A budget is a formal written statement in financial terms of management's plans for a specified future time period. A budget is prepared only once a year. 2. 3. A budget requires all levels of management to plan ahead and to formalize goals on a recurring basis. 4. The budget is an important basis for evaluating performance. 5. The "top-down" approach to budgeting is called participative budgeting. 6. Budgeting and...
DQ2: Both the budget process and budgets themselves can impact management actions, both positively and negatively. For instance, a common practice among not-for-profit organizations and government agencies is for management to spend any amounts remaining in a budget at the end of the budget period, a practice often called "use it or lose it." The view is that if a department manager does not spend the budgeted amount, top management will reduce next year's budget by the amount not spent....
True / False Questions: 1. The flow of input data for budgeting should be from the highest levels of responsibility to the lowest True False 2. The master budget reflects management's long-term plans encompassing five years or more True False 3. The starting point when budgeting for a not-for-profit organization is generally to budget expenditures first True False The manufacturing overhead budget generally has separate sections for variable, mixed, and fixed costs True False 5. The budgeted income statement indicates...
Breve than ot try to KEY TERMS TED on into food and are compon planned and actual expenditures Test your recall of the assistance. If you need 1. Ain) BUDEL 2. Ain) convenis provides mor e 3. The usually involving at least five years. need as farms as follows. Try to recall as many key terms as possible without assistance, refer to the list of the terms at the end of this section is a plan of action expressed in...
Most questions answered within 3 hours.
-
Suppose N packets are sent,
and each packet arrives at rate of L/2R to a link....
asked 5 minutes ago -
17. Show the steps involved in reduction of the ketone in fatty
acid synthesis. Which cofactor...
asked 6 minutes ago -
5.61 g of octane, C8H18, reacts with excess oxygen in a bomb
calorimeter. The heat capacity...
asked 10 minutes ago -
The velocity field of a flow is given by V = (2+1) x
y2 i +...
asked 19 minutes ago -
(EPS with
Convertible Bonds) On June 1, 2012, Bluhm Company and
Amanar Company merged to form...
asked 17 minutes ago -
2. Discuss why the study exemplifies one that agrees with The
American Psychological Association’s (APA) Ethical...
asked 20 minutes ago -
Without considering the following capital gains and losses,
Charlene, who is single, has a taxable income...
asked 28 minutes ago -
1a. The __________ functional group often triggers our sense of
smell.
1b. The geometry around a...
asked 41 minutes ago -
A uniform plank of length 2.00 m and mass 34.0 kg is supported
by three ropes,...
asked 42 minutes ago -
Suppose a floor on a hospital has 12 physicians at any given
time. You are brought...
asked 56 minutes ago -
Compartmentalization
in eukaryotic cells facilitates chemical reactions happening faster
due to... Select all
Substrates needed for...
asked 43 minutes ago -
The deltaH for the solution process when solid sodium
hydroxide dissolves in water is 44.4 kJ/mol....
asked 45 minutes ago