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10 Multiple Choice Antworten
Management by exception is:
a. a management tool to save time and effort
b. a technique that focuses on unplanned results
c. made possible by establishing benchmarks
d. All of the options given
A variable selling expense is:
a. All of the options given
b. an expense that never changes
c. an expense that is directly proportional to sales
d. an expense that is indirectly proportional to sales
If cash is collectd at the sale:
a. the operating cycle will be shorter than if sold on credit
b. the account receivable will be increased as a result of the sale
c. the account payable will be decreased as a result of the sale
d. the operating cycle will be longer than if sold on credit
The master budget for a service business:
a. excludes the projected financial statements
b. excludes the cash budget
c. excludes a purchases budget
d. excludes a sales budget
Budgeting is:
a. a management accountability process
b. a tax compliance process
c. a decision making process
d. a share holder accountability process
When a business sells land, buildings or equipment, it is reported in the ________ section of the statement of cash flows
a. operating
b. financing
c. expense Account
d. investing
An operating cycle is:
a. The average time before a business must reorder inventory
b. An entire year
c. The time it takes for a business to realize a profit
d. The average time it takes for a business to buy inventory, sell it to customers and to collect cash from customers
Which of the following is an interrelated report associated with a master budget?
a. Activities associated with the operating cycle
b. Expected financial results
c. General and administrative expenses budget
d. Goals to be met
