Question

In: Accounting

1. The following is true of the operational budget, except for: Select one: a. It has...

1.

The following is true of the operational budget, except for:

Select one:

a. It has a short-term focus, usually one-year

b. It sets a plan for the purchase of assets

c. It is concerned with the cash effect of sales and expenses

d. It contains a production budget

2.

To begin the operational budgeting process, the first budget to complete is the:

Select one:

a. Production budget

b. Direct materials budget

c. Selling and administrative budget

d. Sales budget

3.

The sales budget has two primary parts. Part 1 projects total sales on a monthly basis and Part 2 calculates the month in which the sales will be received in cash. For which one of the following businesses would Part 1 and Part 2 be exactly the same?

Select one:

a. A business that only allows customers to pay by credit card at the time of sale

b. A business that allows customers to partially pay at the time of service and pay the rest over 60 days

c. A business that requires all customers to prepay for services at least 60 days in advance

d. A business that allows monthly payment plans for all customers who have bad credit

4.

Which one of the following is the equations is used in the production budget?

Select one:

a. Current period sale (in units) + Beginning inventory (in units) + Ending Inventory (Units)

b. Current period sale (in units) + Beginning inventory (in units) - Ending Inventory (Units)

c. Current period sale (in units) - Beginning inventory (in units) - Ending Inventory (Units)

d. Current period sale (in units) - Beginning inventory (in units) + Ending Inventory (Units)

5.

The budget or schedule that provides necessary input data for the direct labor budget is the:

Select one:

a. Raw materials budget

b. Production budget

c. Cash Receipts budget

d. Capital budget

Solutions

Expert Solution


Related Solutions

A comprehensive budget may include any of the following components EXCEPT __________. Select one: a. a...
A comprehensive budget may include any of the following components EXCEPT __________. Select one: a. a specialized budget. b. a tax budget. c. a cash flow statement. d. an operating budget. e. a capital budget. Question 18 Investment risks include all the following EXCEPT __________. Select one: a. default risks. b. economic risks. c. industry and company risks. d. asset class risks e. market risks. Question 19 A kind of annuity that consists of cash flows of equal amounts occurring...
All of the following are true about project schedule EXCEPT? Select one: a. Critical path is...
All of the following are true about project schedule EXCEPT? Select one: a. Critical path is the shortest path in the network b. Activities on critical path have slack time of zero c. To shorten the project completion time, activities on the critical path should be crashed. d. The project completion time is the sum of all activity times on the critical path.
All of the following statements about life insurance are true, EXCEPT: Select one: a. Whole life...
All of the following statements about life insurance are true, EXCEPT: Select one: a. Whole life insurance is regarded as permanent insurance and is generally more expensive than term insurance. b. Beneficiaries who receive benefits under life insurance policies after the insured’s death must pay income tax on the death benefits they receive. c. Term life insurance provides temporary protection for a stated number of years, and is frequently renewable. d. The incontestable clause states that the insurer cannot contest...
33. All of the following statements regarding other comprehensive income are true except: Select one: a....
33. All of the following statements regarding other comprehensive income are true except: Select one: a. Other comprehensive income includes unrealized gains and losses on available-for-sale securities b. Other comprehensive income is added or subtracted to net income to determine comprehensive income c. Other comprehensive income includes foreign currency adjustments d. A Statement of Comprehensive Income can be presented separate from the Income Statement e. Other comprehensive income is part of the Statement of Retained Earnings 36. A cash equivalent...
1. The following are economic criteria to evaluate an engineering project, except one. Which one? Select...
1. The following are economic criteria to evaluate an engineering project, except one. Which one? Select One: a) Maximum Profit b) Minimum Profit c) Maximum Rate of return d) Minimum Pollution e) Minimum Payback period 2. Engineers often use a common method used to resolve uncertainty, which is: Select one: a. risk analysis. b. cash-flow analysis. c. sensitivity analysis. d. economic impact analysis. e. marginal analysis. 3. If offered $100 today or $150 one year from now, you are being...
1. Under the gold standard, all except one of the following are true. Which is not...
1. Under the gold standard, all except one of the following are true. Which is not true? Paper currency was convertible into gold at a fixed rate. A balance-of-payments deficit would result in a loss of gold. A balance-of-payments surplus would result in an inflow in gold. The money supply of any country was largely determined by flows of gold. A surplus country experienced a rise in its money supply and a drop in its price level. 2. Under fixed...
1. Which of the following statements are true? Select all that apply. Select one or more:...
1. Which of the following statements are true? Select all that apply. Select one or more: a. Earnings per share is calculated by dividing retained earnings by the number of shares of common stock outstanding. b. The creditors of a firm must be satisfied before any earnings can be distributed to the common shareholders. c. When referring to ratio comparisons, time-series analysis compares a firm to that of an industry leader. d. The operating profit margin must take into account...
1. The Dow Jones Industrial Average is characterized by the following except Select one: a. None...
1. The Dow Jones Industrial Average is characterized by the following except Select one: a. None of the above b. it is an unweighted average of the sum of the daily closing prices of the stocks that composed the index. c. it was created in 1896 and today is composed of 30 industrial companies. d. it measures movement of the average of 500 stocks traded in the NYSE. 2. In 1971, the first electronic stock market was founded called the...
3.. 1, Which of the following statements is true? Select one: a. It is possible to...
3.. 1, Which of the following statements is true? Select one: a. It is possible to make conclusions about the value of stock options without making any assumption about the volatility of stock prices. b. The put-call parity also hold for American options c. The value of a call generally increases as current stock price, the time to expiration, the volatility and the risk-free interest rate decrease. d. The value of a put generally decreases as current stock price, the...
Each of the following is associated with haemophilia A or B EXCEPT: Select one: a. Recurrent...
Each of the following is associated with haemophilia A or B EXCEPT: Select one: a. Recurrent haemarthroses in a young boy b. Normal prothrombin time c. Prolonged prothrombin time and normal activated partial thromboplastin time d. Prolonged activated partial thromboplastin time e. A factor IX level below 5%
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT