ACC 556 ASSIST Learn by Doing/acc556assist.com ACC 556 ASSIST Learn by Doing/acc556assist.com | страница 39

www.acc556assist.com
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
Question 6
Why are budgets useful in the planning process?
Question 7
Which of the following statements about budget acceptance in an
organization is true?
Question 8