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DE_acc202_final_review - Chapter22 A)True B)False...

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Chapter  22  Responsibility accounting performance reports compare budgets with actual results for each  responsibility center.  A) True B) False  A budget is a quantitative expression of a plan that helps managers coordinate and  implement the plan.  A) True B) False  Which of the following statements about budgeting is NOT true?  A) Budgets help to coordinate the activities of the entire organization.  B) Budgets promote communication and coordination between departments.  C) Budgeting is an aid to planning and control.  D) The operating budget should be prepared by top management because it has the overall objectives  of the company in mind better than mid-management personnel.  Budgets provide benchmarks that help managers evaluate performance.  A) True B) False  Which of the following is an advantage of the budgeting process? A) helps to focus the company on achieving its objectives  B) aids in performance evaluation  C) coordinates the activities of the organization  D) all of the above are correct  The sales budget must be prepared before any other component of the operating budget.  A) True B) False Chapter  23  Standard costs help motivate employees by serving as benchmarks against which their  performance is measured.  A) True B) False
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