MCQ On Internal Controls Accounting
5 Questions
| Total Attempts: 38
.
Questions and Answers
- 1.Practice which makes target more achievable by underestimating revenues or overestimating cost is classified as
- A.
Cost slack
- B.
Target slack
- C.
Budgetary slack
- D.
Revenue slack
- 2.Budgeted income statement and supporting budget schedules is classified as
- A.
Focused statement
- B.
Slack statement
- C.
Budgeted income statement
- D.
Operating budget
- 3.Compelling strategic plan, promoting coordination and providing framework of performance are classified as
- A.
Advantages of budget
- B.
Disadvantages of budget
- C.
Advantages of costing method
- D.
Disadvantages of costing method
- 4.In budgeting plans, better administration of budget requires
- A.
Intelligent interpretations
- B.
Participation
- C.
Persuasion
- D.
All of Above
- 5.Master budget includes all projections of budget of company and focuses on
- A.
Serial correlation
- B.
Marketing plan
- C.
Financial plan
- D.
Both B and C
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