Which of the following is true in a bottom-up budgeting approach?   a.Supervisors tell departments their budget amount and the departments are free to work within those amounts. b.Departments determine their needs and relate them to the overall goals. c.Every expense needs to be justified. d.Departments budget their needs however they see fit.

1. The organizational process of budgeting performs several important functions. Which is true? A. Assigns decision rights B. Shares knowiedge C. Measures performance D. All of the choices are correct

How you direct and coordinate a  budgeting process ?

[1] The major objectives of any budget system are to A. Foster the planning of operations, provide a framework for performance evaluation, and promote communication and coordination among organization segments. B. Define responsibility centers, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates. C. Define responsibility centers, provide a framework for performance evaluation, and promote communication and coordination among organization segments. D. Foster the planning of operations, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates.

Which of the following accounts would appear on a budgeted balance sheet? Multiple Cholce All of the choices are correct. Income tax expense. Accounts receivable. Sales commissions. Depreciation expense.

What are the two main activities involved in budgeting? Detailing No answer text provided. Preparing Decision Making Post-evaluation No answer text provided. Planning Controlling

Which of the following describe the control aspect of the budgeting process? Please select all that apply.         Rewarding the achievement of challenging targets.         Checking progress towards achieving targets and objectives.         Regular comparison of budgeted and actual outcomes.         Investigating the causes of variations between budgeted and actual outcomes

Why is a clear understanding of management’s goals and objectives necessary for effective budgets?

The objectives of budgeting are to:a. Establish specific goals for future operations b. Execute plans to achieve the goalsc. Measure performance by periodic comparison of actual with budgeted results d. All of the above

Activity-based budgeting is a system that recorded and analyses activities that lead to costs of the company. State FIVE (5) examples of suitable business using the activity-based budgeting