MCQ On Internal Controls Accounting

5 Questions | Total Attempts: 38

SettingsSettingsSettings
Please wait...
MCQ On Internal Controls Accounting

.


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

Back to Top Back to top