ch 20 practice quiz

Ch 20 practice quiz - C20 PQ1 True-False 1 When managers plan they use budget information to review variances that suggest waste in operating

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C20 PQ1 True-False 1. When managers plan, they use budget information to review variances that suggest waste in operating activities. 2. During the year, managers use budget information to communicate expectations about performance, to measure performance and motivate employees, and to coordinate activities and allot resources. 3. A budget is a plan of action that reflects historical transactions, activities, and events in financial terms. 4. Performance reports are used to compare actual operating results with planned results. 5. A service organization does not have a direct materials budget. 6. Successful budget implementation depends on clear communication of performance expectations and budget targets, and on the support of top management 7. Participative budgeting is a process in which personnel at all levels of an organization actively engage in making decisions about the budget. Multiple Choice 8. Which of the following is true of a successful budgeting process? A.
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This note was uploaded on 04/25/2011 for the course ACC 101 taught by Professor Dasd during the Winter '08 term at DePaul.

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Ch 20 practice quiz - C20 PQ1 True-False 1 When managers plan they use budget information to review variances that suggest waste in operating

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