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