qz9 - Accountinggenerallyhastheresponsibilityfor...

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Accounting generally has the responsibility for administration of the budget. enforcing the budget. setting company goals. expressing the budget in financial terms. A common starting point in the budgeting process is a clean slate, with no expectations. past performance. to motivate the sales force. expected future net income. Top management notices a variation from budget and an investigation of the difference reveals that the department manager  could not be expected to have controlled the variation. Which of the following statements is applicable? Department managers should be held accountable for all variances from budgets for their departments. Department managers' performances should not be evaluated based on actual results to budgeted results. Department managers should be credited for favorable variances even if they are beyond their control. Department managers should only be held accountable for controllable variances for their departments. Budget development for the coming year usually starts several months before the end of the current year. the first month of the year to be budgeted. the last month of the previous year. a year in advance. Which of the following is not a proper match-up? Budgeting    Short-term goals Long-range planning    5 years Budgeting    Long-term goals Long range planning    Strategies In a production budget, total required units are the budgeted sales units plus desired ending finished goods units minus beginning finished goods units. desired ending finished goods units.
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desired ending finished goods units plus beginning finished goods units. beginning finished goods units. A master budget consists of all the accounting journals and ledgers used by a company. financial budgets and a long-term plan. an interrelated long-term plan and operating budgets. interrelated financial budgets and operating budgets.
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This note was uploaded on 11/07/2011 for the course ACCOUNTING 560 taught by Professor Alper during the Fall '09 term at Strayer.

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qz9 - Accountinggenerallyhastheresponsibilityfor...

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