Budget reports should be prepared Question 26 options: A) as frequently as neede

Question

Budget reports should be prepared
Question 26 options:

A) as frequently as needed.

B) daily.

C) weekly.

D) monthly.



On the basis of the budget reports,
Question 27 options:

A) management analyzes differences between actual and planned results.

B) management may modify the future plans.

C) management may take corrective action.

D) all of these.

A static budget report
Question 28 options:

A) should be used when the actual level of activity is materially different from the master budget activity level.

B) is appropriate in evaluating a manager's effectiveness in controlling variable costs.

C) may be appropriate in evaluating a manager's effectiveness in controlling costs when the behavior of the costs in response to changes in activity is fixed.

D) shows costs at only 2 or 3 different levels of activity.


Ashcroft, Inc. prepared a 2010 budget for 60,000 units of product. Actual production in 2010 was 65,000 units. To be most useful, what amounts should a performance report for this company compare?
Question 29 options:

A) The actual results for 65,000 units with last year's actual results for 67,000 units

B) It doesn't matter. All of these choices are equally useful.

C) The actual results for 65,000 units with the original budget for 60,000 units

D) The actual results for 65,000 units with a new budget for 65,000 units.

Under management by exception, which differences between planned and actual results should be investigated?
Question 30 options:

A) All differences should be investigated

B) Controllable and noncontrollable

C) Material and noncontrollable

D) Material and controllable

Explanation / Answer

Question 26: A) as frequently as needed Question 27: A) management analyzes differences between actual and planned results.
Question 28: C) may be appropriate in evaluating a manager's effectiveness in controlling costs when the behavior of the costs in response to changes in activity is fixed.
Question 29: C) The actual results for 65,000 units with the original budget for 60,000 units
Questin 30: A) All differences should be investigated

Thank you....

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