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Difficulty 2 objective 2 66 budgets should a be

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Difficulty:2Objective:266.Budgets shoulda.be flexible.b.be administered rigidly.c.be developed for short periods of time.d.include only variable costs.Answer:aDifficulty:2Objective:2
67.Operating budgets include all EXCEPTDifficulty:1Objective:3
68.Operating budgets include theDifficulty:1Objective:3
69.The operating budget process generally concludes with the preparation of theDifficulty:1Objective:3
Chapter 6Page 10
70.Financial budgets include thea.capital expenditures budget.b.production budget.c.marketing costs budget.d.administrative costs budget.Answer:aDifficulty:1Objective:3
71.__________ includes a budgeted statement of cash flows and a budgeted balance sheet.Difficulty:1Objective:3
72.The order to follow when preparing the operating budget isDifficulty:2Objective:3
73.In which order are the following developed?First to last:A = Production budgetB = Direct materials costs budgetC = Budgeted income statementD = Revenues budgetDifficulty:2Objective:3
74.The budgeting process is MOST strongly influenced bya.the capital budget.b.the budgeted statement of cash flows.c.the sales forecast.d.the production budget.Answer:c

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