8. When a budget is updated at every incremental budget period, the process is called: a. Participative budgeting b. Continuous budgeting c. Capital budgeting d. Zero-based budgeting e. None of the above
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- A budget which is designed to change in accordance with the various level of activity actually attained is called? Select one: O a. Master Budget O b. Flexible Budget O c. None of the option O d. Fixed BudgetA fixed budget is: Select one: a. A budget for fixed costs b. A budget for fixed assets C. A budget which ignores inflation d. A budget for single level of activityWhich of the following budgets allows for adjustments in activity levels? a. zero-based budget b. continuous budget c. static budget Od. flexible budget
- A budget which is designed to remain unchanged irrespective of the level of activity actuaily attained is called? Select one: O a. Flexible Budget b. Fixed Budget c. None of the option O d. Master BudgetWhich budget activity at the start of each year is set as "zero"?Select one:a. Incremental Budgetingb. Zero based budgetingc. Activity based budgetingd. Base budgetingDefine Zero Base Budgeting. What are the steps involved in this?
- 2. Which of the following budgets will typically have the longest budget period? a. Capital expenditures budget b. Cash budget c. Sales budget d. Budgeted income statementA budget that adjusts to the changes in volume of production or output is called production budget. Select one: O True O False1.7 The selling price of Product X is set at £250 for each unit and sales for next year are expected to be 500 units. A return of 30% on the investment of £150,000 in Product X will be required in next year. What is the target cost for each unit of Product X? Select one alternative: O £175 O £100 O £90 O £160
- The Zero Base Budget (ZBB) is the budget system that most influences resource allocation management by involving the devolution of decision making power to the lower levels. Identify whether this statement is true or false. Select one:TrueFalseWhich budget evaluates the results of operations at the actual level of activity? capĂtal budget cash budget flexible budget static budgetWhich approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgeting
