ACC 556 Chapter 21 Quiz ( 100 % Score )
9 . Free cash flow 10 . Inventory turnover ===================================================
ACC 556 Chapter 21 Quiz ( 100 % Score )
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Chapter 21 Quiz Question 1
A benefit of budgeting is that it provides definite objectives for evaluating performance . Question 2
Effective budgeting requires clearly defined lines of authority and responsibility . Question 3
Financial budgets must be completed before the operating budgets can be prepared . Question 4
The budgeted income statement indicates the expected profitability of operations for the next year
Question 5
The budget itself and the administration of the budget are entirely accounting responsibilities