AC202quiz7Trammell

AC202quiz7Trammell - AC 202 Principles of Accounting II...

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AC 202 Principles of Accounting II Name: Barbie Trammell 574931 Park University Version D Quiz 7D-Chapter 23 Multiple Choice Questions ( 10 Points each ) Select the ONE, BEST Answer. 1. A formal statement of future plans, usually expressed in monetary terms, is a: A. Variance report. B. Position statement. C. Budget. D. Prospectus. E. Variance analysis. 2. For budgets to be effective: A. Goals should be attainable. B. Employees affected by a budget should be consulted when it is prepared. C. Evaluations should be made carefully with opportunities to explain any failures. D. They should be properly applied to avoid negative effects. E. All of these. 3. The usual budget period is: A. An annual period of 250 working days. B. A monthly period separated into daily budgets. C. A quarterly period separated into weekly budgets. D. An annual period separated into weekly budgets. E. An annual period separated into quarterly and monthly budgets.
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4. A comprehensive or overall formal plan for a business that includes specific plans for
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AC202quiz7Trammell - AC 202 Principles of Accounting II...

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