Reference no: EM132556484
Question 1. A Flexible budget:
A. Allows managers to change budget numbers when they wish
B. Means that it is used at managements choice
C. Is a series of static budgets
D. Is created at year end
E. None of these
Question 2. Which of the following are considered cash receipts?
Select one:
A. Accrued interest
B. Collection of Accounts Receivable
C. Purchase of investments
D. Purchase of a truck
E. Direct materials purchased on account
Question 3. Which Budget is created first when creating a Budgeted Income Statement?
Select one:
A. Capital expenditures budget
B. Budgeted balance sheet
C. Sales budget
D. Production budget
E. None of these
Question 4. A cash budget deals with:
Select one:
A. Collection of A/R
B. Payments of A/P
C. Cash Sales
D. Paying wages
E. All of the above
Question 5. An example of a company with a business segment:
Select one:
A. Is similar to a store of a chain of department stores.
B. Is similar to a company that has a sales and marketing department.
C. Is similar to a company that makes cars and jet fighters
D. There is no such thing as a segment
E. None of the above