What are some of the possible reasons that actual results may differ from what had been budgeted at the beginning of a period?
Q: What does a flexible budget performance report do that a simple comparison of budgeted toactual…
A: Click to see the answer
Q: Why is it difficult to interpret a difference between how much expense was budgeted and howmuch was…
A: Definition: Spending variance: The difference between the actual and budgeted expenses is known as…
Q: What is a “replacement chain”? When and how should replacement chains be used incapital budgeting?
A: The method which can be used to choose best among the more than two mutually exclusive capital…
Q: Which of the following is a use of budgets for control? * A. plans can be made for the future B.…
A: Controlling activities are those activities which aid in monitoring the performance of a particular…
Q: What are the risks and benefits of both internal and external budget preparation?
A: Budgeting is a process in which selected organizations and individuals are assigned certain…
Q: Why might a rolling budget require more management participation than an annual budget?
A: Budget: It is an estimated and effective way of the utilization of funds for the financial control…
Q: Why is it difficult to interpret a difference between how much expense was budgeted and how much was…
A: Spending variance: The difference between the actual and budgeted expenses is known as spending…
Q: Why is it difficult to interpret a difference between how much expense was budgeted and how much was…
A: It is difficult to interpret a difference between how much expense was budgeted and how much was…
Q: Explain the relationship between performance reports and flexible budgeting.
A: Click to see the answer
Q: Can you interpret the effect on revenue , expense and profits if the sale or production differ from…
A: Master Budget shows the estimated results that a company expects to obtain from its operations.
Q: Can you interpret the effect on revenue , expense and profits if the sale or production differ from…
A: Master Budget shows the estimated results that a company expects to obtain from its operations.
Q: What does a flexible budget performance report do that a simple comparison of budgeted to actual…
A: Click to see the answer
Q: What does a flexible budget performance report do that a simple comparison of budgeted to actual…
A: Flexible budget performance report: A tool used to compare the actual and budgeted results…
Q: Explain the value of utilizing a balance sheet to make a budget adjustment. What is the danger?
A: In every organization's financial accounting, the balance sheet plays a critical and important part.…
Q: Explain the value of utilizing a balance sheet to make a budget adjustment. What is the danger?
A: The budgeted balance sheet is usually prepared at the start of the fiscal year. The organization…
Q: Which type of budget is the forecasting of how much should be spent on large items such as…
A: A budget is the estimate made over a future selected period of time
Q: How are budget variances calculated and used as performance measures? Provide numerical example
A: Budget variance is the difference between the financial outcomes (Budget) and the actual financial…
Q: A detailed report to management comparing budgeted data with actual data for a specific time period…
A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…
Q: the advantages and limitations of an annual budgeting system
A: The advantages of annual budgeting system are- 1) It provides a sense of orientation for planning…
Q: Define the terms relative-performance (relative-improvement) contract and rolling financial…
A: Relative performance: It is related to the evaluation of the performance of an individual based on…
Q: What is the difference in purpose between an economic-enterprise budget and the results of the…
A: The purpose of the economic-enterprise budget is to estimate sales, costs, and, finally, the…
Q: What is the major benefit of tying a budget to the overall goals of the compan
A: Budgeting is an important part of the business process. Without budgeting a business cannot track…
Q: Activity-based budgeting is a budget system based on expected activities. Describe activity-based…
A: Activity based budgeting is a budgeting system that purpose to record, analysis, interpret, and…
Q: Activity-based budgeting is a budget system based on expected activities. Describe activity-based…
A: Activity Based Budgeting is a system of budgeting that records , researches , analyzes and interpret…
Q: write the advantages and limitations of an annual budgeting system
A: Annual budget will be Can ve defined as as a concept set out for a companys expenditures for a…
Q: What is a static budget performance report?
A: Static Budget Performance report: The Static Budget Performance report reports the variances.…
Q: What is a static budget performance report?
A: Static Budget Performance report: The Static Budget Performance report reports the variances.…
Q: How can sensitivity analysis be used to increase the benefits of budgeting?
A: Click to see the answer
Q: How does activity-based budgeting explain the logic of budgeting?
A: Activity based budgeting: It is a budgeting system where budgets are prepared based on the expected…
Q: What assumption is implicitly made about cost behavior when a budget is directly compared toactual…
A: Click to see the answer
Q: What are the benefits of making an operating budget?
A: Operating Budget: The operating budget is that budget which is prepared to plan all the operating…
Q: What is a flexible budget? Explain how a flexible budgetincreases the usefulness of budgeting as a…
A: A flexible budget is a budget that can be easily adjusted to reflect the changes in the volume of…
Q: Which is the mostly likely purpose of budgeting? a. Assess the non-financial performance of an…
A: Budgeting refers to preparing a plan or schedule in order to estimate the income that can be earned…
Q: Meaning of budget? Meaning and the sample budget for the following budgets: sales budget,…
A: Click to see the answer
Q: Which of the following may appear on a flexible budget performance report? Multiple Choice An…
A: A flexible budget is a budget that includes all the flexibility and change in the output. In…
Q: Does a budget provide guidlines of the application of the organisaion`s resources?
A: Budgeting is critical for any business because it allows income and expenses to be matched. It makes…
Q: What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…
A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…
Q: What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…
A: It refers to the budgets in which persons have responsibility over the control of cost and prepare…
Q: Explain participative budgeting
A: Budgeting is a process of making a financial plan with respect to income and expenditure. The…
Q: Which of the following statements is not correct? The revenue budget is the starting point in…
A: Budget: Budget is the process of identifying, collecting, and summarizing the financial information.…
Q: Which of the following statements is false with respect to a budgeted income statement? Its interest…
A: The budgeted income statement is like other income statements which shows all the expenses and the…
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