University of Louisiana, Lafayette ACCT 526 / ACCT526 Quiz 5

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ACCT526-820_020-201840 Started on Monday, 23 April 2018, 4:19 PM State Finished Completed on Monday, 23 April 2018, 4:47 PM Time taken 27 mins 24 secs Question 1 Complete Not graded Flag quest... ion Question text A budget: Select one: a. is the primary method of communicating agreed upon objectives throughout an organization b. is the responsibility of management accountants c. ignores past performance because it represents management's plans for a future time period d. may promote efficiency but has no role in evaluating performance Feedback Your answer is correct. The correct answer is: is the primary method of communicating agreed upon objectives throughout an organization Question 2 Complete Not graded This study source was downloaded by 100000831988016 from CourseHero.com on 03-21-2022 12:50:09 GMT -05:00 https://www.coursehero.com/file/30550775/ACCT-526-Quiz-5docx/ Flag question Question text The formula for the production budget is budgeted sales in units plus: Select one: a. desired ending direct materials units less beginning direct materials units b. desired ending merchandise inventory less beginning merchandise inventory c. desired ending finished goods units less beginning finished goods units d. beginning finished goods units less desired ending finished goods units Feedback Your answer is correct. The correct answer is: desired ending finished goods units less beginning finished goods units Question 3 Complete Not graded Flag question Question text Each of the following budgets is used in preparing the budgeted income statement except the: Select one: a. direct labor budget b. capital expenditure budget c. selling and administrative budget This study source was downloaded by 100000831988016 from CourseHero.com on 03-21-2022 12:50:09 GMT -05:00 https://www.coursehero.com/file/30550775/ACCT-526-Quiz-5docx/ d. sales budget Feedback Your answer is correct. The correct answer is: capital expenditure budget Question 4 Complete Not graded Flag question Question text The format of a cash budget is: Select one: a. Beginning cash balance + Cash receipts - Cash disbursements +/- Financing = Ending cash balance b. Beginning cash balance + Net income - Cash dividends = Ending cash balance c. Beginning cash balance + Cash receipts + Cash from financing - Cash disbursements = Ending cash balance d. Beginning cash balance + Cash revenues - Cash expenses = Ending cash balance Feedback Your answer is correct. The correct answer is: Beginning cash balance + Cash receipts - Cash disbursements +/- Financing = Ending cash balance Question 5 Complete Not graded Flag question This study source was downloaded by 100000831988016 from CourseHero.com on 03-21-2022 12:50:09 GMT -05:00 https://www.coursehero.com/file/30550775/ACCT-526-Quiz-5docx/ Question text Which of the following is an example of the planning function of the budgeting process? Select one: a. Employees are motivated to achieve the goals set by the budget b. Budget figures are used to evaluate the performance of managers c. A budget demands integrated input from different business units and functions [Show More]

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