MCQ On Internal Controls Accounting
5 Questions
| Attempts: 39
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In budgeting plans, better administration of budget requires
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Intelligent interpretations
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Participation
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Persuasion
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All of Above
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- 2.
Compelling strategic plan, promoting coordination and providing framework of performance are classified as
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Advantages of budget
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Disadvantages of budget
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Advantages of costing method
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Disadvantages of costing method
Correct Answer
A. Advantages of budget -
- 3.
Master budget includes all projections of budget of company and focuses on
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Serial correlation
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Marketing plan
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Financial plan
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Both B and C
Correct Answer
A. Both B and C -
- 4.
Practice which makes target more achievable by underestimating revenues or overestimating cost is classified as
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Cost slack
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Target slack
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Budgetary slack
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Revenue slack
Correct Answer
A. Budgetary slack -
- 5.
Budgeted income statement and supporting budget schedules is classified as
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Focused statement
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Slack statement
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Budgeted income statement
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Operating budget
Correct Answer
A. Operating budget -
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Current Version
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Mar 18, 2022Quiz Edited by
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May 22, 2016Quiz Created by
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