Master Budget And Responsibility Accounting MCQs

Option A: anticipated budgeting

Option B: number budgeting

Option C: predict budgeting

Option D: kaizen budgeting

Correct Answer: kaizen budgeting ✔

Option A: financial budget

Option B: capital budget

Option C: cash flows budget

Option D: balanced budget

Correct Answer: financial budget ✔

Option A: analysis of batches

Option B: analysis of batches

Option C: analysis of products

Option D: making predictions about future

Correct Answer: making predictions about future ✔

Option A: $5,000

Option B: $35,000

Option C: $15,000

Option D: $45,000

Correct Answer: $35,000 ✔

Option A: implementing income

Option B: implementing the decision

Option C: efficient implementation

Option D: effective implementation

Correct Answer: implementing the decision ✔

Option A: bill of materials

Option B: bill of sequence

Option C: bill of detail

Option D: bill of raw materials

Correct Answer: bill of materials ✔

Option A: action plan

Option B: strategy

Option C: step wise plan

Option D: complex plan

Correct Answer: complex plan ✔

Option A: focused statement

Option B: slack statement

Option C: budgeted income statement

Option D: operating budget

Correct Answer: operating budget ✔

Option A: budget production

Option B: planned production

Option C: setup production

Option D: stand by production

Correct Answer: budget production ✔

Option A: high incentive bonus

Option B: low incentive bonus

Option C: influence bonus

Option D: revenue bonus

Correct Answer: high incentive bonus ✔

Option A: cost budget

Option B: material list

Option C: revenue budget

Option D: list of investors

Correct Answer: revenue budget ✔

Option A: complexity

Option B: process

Option C: budget

Option D: batching

Correct Answer: budget ✔

Option A: profit plan

Option B: sales plan

Option C: cost plan

Option D: marketing plan

Correct Answer: profit plan ✔

Option A: cost slack

Option B: target slack

Option C: budgetary slack

Option D: revenue slack

Correct Answer: budgetary slack ✔

Option A: intelligent interpretations

Option B: participation

Option C: persuasion

Option D: all of above

Correct Answer: all of above ✔

Option A: to be implemented

Option B: based on current practice

Option C: based on past prices

Option D: based on sold quantity

Correct Answer: to be implemented ✔

Option A: controllability

Option B: influential power

Option C: responsibility

Option D: all of above

Correct Answer: controllability ✔

Option A: advantages of budget

Option B: disadvantages of budget

Option C: advantages of costing method

Option D: disadvantages of costing method

Correct Answer: advantages of budget ✔

Option A: total goods manufactured

Option B: total cash available

Option C: total revenue

Option D: total goods sold

Correct Answer: total cash available ✔

Option A: price disbursements

Option B: cash disbursements

Option C: budget disbursements

Option D: goods disbursements

Correct Answer: cash disbursements ✔

Option A: investment planning models

Option B: financial planning models

Option C: cost planning models

Option D: revenues forecast models

Correct Answer: financial planning models ✔

Option A: choose alternatives

Option B: evaluate alternatives

Option C: efficiency improvements

Option D: predicted improvements

Correct Answer: choose alternatives ✔

Option A: rolling budget

Option B: pin budget

Option C: specific budget

Option D: past budget

Correct Answer: rolling budget ✔

Option A: identify the product

Option B: identify the problem

Option C: identify the quartiles

Option D: identify the percentiles

Correct Answer: identify the problem ✔

Option A: budgetary slack

Option B: costly slack

Option C: influential slack

Option D: target slack

Correct Answer: budgetary slack ✔

Option A: planned schedule

Option B: cash budget

Option C: market budget

Option D: price schedule

Correct Answer: cash budget ✔

Option A: marketing center

Option B: financial center

Option C: responsibility center

Option D: planning center

Correct Answer: responsibility center ✔

Option A: cash receipts

Option B: budget receipts

Option C: goods manufactured

Option D: total goods sold

Correct Answer: cash receipts ✔

Option A: 11000 units

Option B: 13000 units

Option C: 10000 units

Option D: 7000 units

Correct Answer: 7000 units ✔

Option A: annual profit plan

Option B: budgeting

Option C: coordination

Option D: complex plan

Correct Answer: coordination ✔

Option A: plan coordination

Option B: plan accounts

Option C: obtain information

Option D: coverage information

Correct Answer: obtain information ✔

Option A: annual budget

Option B: operating budget

Option C: specific budget

Option D: master budget

Correct Answer: master budget ✔

Option A: change analysis

Option B: original analysis

Option C: sensitivity analysis

Option D: predicted analysis

Correct Answer: sensitivity analysis ✔

Option A: serial correlation

Option B: marketing plan

Option C: financial plan

Option D: both B and C

Correct Answer: both B and C ✔

Option A: 6000 units

Option B: 4000 units

Option C: no units

Option D: 8000 units

Correct Answer: 4000 units ✔

Option A: focused accounting

Option B: responsibility accounting

Option C: information accounting

Option D: blame accounting

Correct Answer: responsibility accounting ✔

Option A: math plan model

Option B: financial planning models

Option C: operating plan models

Option D: master plan models

Correct Answer: financial planning models ✔

Option A: complexity

Option B: process

Option C: budget

Option D: batching

Correct Answer: budget ✔

Option A: coordination

Option B: communication

Option C: annual profit plan

Option D: budgeting

Correct Answer: communication ✔

Option A: budget

Option B: batching

Option C: complexity

Option D: process

Correct Answer: budget ✔

Option A: cost statement

Option B: preformed statement

Option C: sales statement

Option D: market statement

Correct Answer: preformed statement ✔

Option A: market budget

Option B: price schedule

Option C: planned schedule

Option D: cash budget

Correct Answer: cash budget ✔

Option A: 4000 units

Option B: 5000 units

Option C: 8000 units

Option D: 10000 units

Correct Answer: 8000 units ✔

Option A: cost based budgeting

Option B: activity based budgeting

Option C: production based budgeting

Option D: raw material budgeting

Correct Answer: activity based budgeting ✔

Option A: period budget

Option B: batch budget

Option C: discontinued budget

Option D: continuous budget

Correct Answer: continuous budget ✔

Option A: direct manufacturing labor-hours

Option B: setup labor-hours

Option C: budgeted labor-hours

Option D: both a and b

Correct Answer: both a and b ✔

Option A: manager cost

Option B: influential cost

Option C: center cost

Option D: controllable cost

Correct Answer: controllable cost ✔