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All the following are considered to be benefits of

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22. All the following are considered to be benefits of participative budgeting, except for:  A) Individuals at all organizational levels are recognized as being part of a team; this results in greater  support for the organization. B) The budget estimates are prepared by those in directly involved in activities. C) When managers set their own targets for the budget, top management need not be concerned with the  overall profitability of operations. D) Managers are held responsible for reaching their goals and cannot easily shift responsibility by  blaming unrealistic goals set by others. Source: CMA, adapted Level: Easy    LO:  1    Ans:  C 23. Which of the following is NOT an objective of the budgeting process? 24. When preparing a production budget, the required production equals: 25. The direct labor budget is based on: Brewer, Introduction to Managerial Accounting, 3/e 106
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26. Which of the following might be included as a disbursement on a cash budget? A)  A Above B)  B Above C)  C Above D)  D Above Level: Medium    LO:  8    Ans:  C 27. Thirty percent of Sharp Company’s sales are for cash and 70% are on account. Sixty percent of the  account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second  month following sale. The remainder is uncollectible. The following are budgeted sales data for the  company: Total cash receipts in April are expected to be: 
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