11 which of the following is an example of the coordination and communication functi 4306857

11 which of the following is an example of the coordination and communication functi 4306857

11) Which of the following is an example of the coordination and communication function of a budget?

A) A budget demands integrated input from different business units and functions.

B) Employees are motivated to achieve the goals set by the budget.

C) Budget figures are used to evaluate the performance of managers.

D) The budget outlines a specific course of action for the coming period.

12) Which of the following is an example of the benchmarking function of a budget?

A) A budget demands integrated input from different business units and functions.

B) Budgeting requires close cooperation between accountants and operational personnel.

C) Budget figures are used to evaluate the performance of managers.

D) The budget outlines a specific course of action for the coming period.

13) An intentional understatement of expected revenues or overstatement of expected expenses by managers in order to have a favorable performance evaluation is known as:

A) benchmarking.

B) appropriation.

C) budgetary slack.

D) variance analysis.

Learning Objective 22-2

1) A strategic budget is a long-term financial plan used to coordinate the activities needed to achieve the long-term goals of the company.

2) An operating budget is a short-term financial plan that coordinates activities to achieve short-term goals.

3) A strategic budget will be as detailed as an operating budget.

4) A static budget is a financial plan for a particular level of sales volume.

5) A flexible budget is prepared to represent different levels of sales volume.

6) A master budget is the financial plan for a specific segment of an organization.

7) Budgeted financial statements are financial statements based on budgeted amounts rather than actual amounts.

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