Budgetary Control And Responsibility Accounting

6 Questions | Attempts: 38
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  • 1/6 Questions

    A static budget is a projection of budget data at one level of activity.

    • True
    • False
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Budgetary Control And Responsibility Accounting - Quiz
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  • 2. 

    Budgetary control involves all of the following activities except:

    • Develop budget

    • Edit budget

    • Take corrective action

    • Modify future plans

    Correct Answer
    A. Edit budget
  • 3. 

    Which one of the following is a limitation of static budget reports?

    • It is appropriate for fixed costs

    • Appropriate for evaluating a manager's effectiveness in controlling costs

    • Not appropriate for variable costs

    • None of the above

    Correct Answer
    A. Not appropriate for variable costs
  • 4. 

    The three basic types of responsibility centers are:

    • Revenue center

    • Cost center

    • Profit center

    • Investment center

    Correct Answer(s)
    A. Cost center
    A. Profit center
    A. Investment center
  • 5. 

    Developing a flexible budget involves how many steps?

    • 5

    • 1

    • 3

    • 4

    Correct Answer
    A. 4
  • 6. 

    A ________ center is any individual who has control and is accountable for activties. 

    Correct Answer
    Responsibility

Quiz Review Timeline (Updated): Mar 19, 2022 +

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  • Current Version
  • Mar 19, 2022
    Quiz Edited by
    ProProfs Editorial Team
  • Oct 21, 2020
    Quiz Created by
    S11173840
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