Chapter 8 Quiz - EHall21.rtf

Chapter 8 Quiz - EHall21.rtf - Chapter 8The Master Budget...

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Chapter 8—The Master Budget Quiz 1. A budget aids in a. communication. b. motivation. c. coordination. d. all of the above. 2. Which of the following is not an "operating" budget? a. sales budget b. production budget c. purchases budget d. capital budget 3. Chronologically, the first part of the master budget to be prepared would be the a. sales budget. b. production budget. c. cash budget. d. pro forma financial statements. 4. Which of the following items would not be found in the financing section of the cash budget? a. cash payments for debt retirement b. cash payments for interest c. cash payments for sales of investments d. payment of accounts payable 5. A budget that includes a 12-month planning period at all times is called a ____ budget. a. pro forma b. flexible c. master d. continuous 6. The method of budgeting that adds one month's budget to the end of the plan when the current month's budget is dropped from the plan is called ____ budgeting. a. long-term b. operations
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