ACC 556 STR Course Great Wisdom / tutorialrank.com ACC 556 STR Course Great Wisdom / tutorialrank.com | Page 45

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
The budget committee would not normally include the
Question 9
Which of the following is not an operating budget?
Question 10
The production budget shows expected unit sales are 100,000. The
required production units are 104,000. What are the beginning and
desired ending finished goods units, respectively?
Question 11
A company budgeted unit sales of 204,000 units for January, 2013
and 240,000 units for February 2013. The company has a policy of