Question 1 (2.5 points) Budgeting provides all of the following EXCEPT: Question

Question

Question 1 (2.5 points) Budgeting provides all of the following EXCEPT:

Question 1 options: A) an ethical framework for decision making. B) support for the management functions of planning and coordination. C) a means to anticipate problems. D) a means to communicate the organization's short-term goals to its members.

Question 2 (2.5 points) When discussing the roles of budgets, a planning role in the budgeting process includes:

Question 2 options: A) developing the master budget. B) reporting actual amounts at the end of the budgeting period. C) assessing performance. D) measuring outcomes against planned amounts.

Question 3 (2.5 points) When discussing the roles of budgets, a control role includes:

Question 3 options: A) measuring and assessing performance against budgeted amounts. B) developing long-term strategies and short-term plans. C) identifying organizational objectives and short-term goals. D) developing the master budget.

Question 4 (2.5 points) In which order are the following developed?

A = Production plan

B = Materials purchasing plan

C = Demand forecastD = Sales plan

Question 4 options: A) first to last: C, A, D, B B) first to last: A, B, C, D C) first to last: D, C, B, A D) first to last: C, D, A, B

Question 5 (2.5 points) What is the current break-even point in terms of number of units for the next month?

Question 5 options: A) 1,500 units B) 2,250 units C) 3,333 units D) None of the above is correct. Save

Explanation / Answer

Answer 1. A.) An ethical framework for decision making.

Answer 2. B.) Reporting actual amounts at the end of the Budgeting Period

Answer 3. D.) Developing the master budget.

Anser 5. A) 1500 Units.

Anser 4. D) First to Last : C,D,A,B

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