2.Based from the given choices below, peruse which is not considered to be a primary goal of budgeting - Group of answer choices - To make sure that the company expands its operations - To communicate the company's plans throughout the entire business organization - To control revenues and expenses during a given period

2.Based from the given choices below, peruse which is not considered to be a primary goal of budgeting - Group of answer choices - To make sure that the company expands its operations - To communicate the company's plans throughout the entire business organization - To control revenues and expenses during a given period

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter9: Cost Accounting For Service Businesses, The Balanced Scorecard, And Quality Costs

Section: Chapter Questions

Problem 11Q: Explain how a budgeted income statement for a service business may be used for both planning and...

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Similar questions

Explain how a budgeted income statement for a service business may be used for both planning and control purposes.
Why is a clear understanding of managements goals and objectives necessary for effective budgets?
If management is being evaluated on their ability to manage a budget, what can they do to increase cash flow?
1. Which of the following is NOT an objective of the budgeting process? a. O a. To communicate management's plans throughout the entire organization O D.To provide a means of allocating resources to those parts of the organization where they can be used most effectively С. To ensure that the company continues to grow OTo uncover potential bottlenecks before they occur
Which of the following is not considered a benefit of the budgeting process? a. Gives managers guidance when evaluating the performance of business operations. b. Determines the exact amount of revenues and expenses for the upcoming fiscal period. c. Helps managers achieve short-term and medium-term goals. d. Helps managers set long-term strategic plans.
Which of the following is NOT an objective of the budgeting process? Group of answer choices a - To communicate management's plans throughout the entire organization b - To ensure that the company continues to grow. c - To uncover potential bottlenecks before they occur d - To provide a means of allocating resources to those parts of the organization where they can be used most effectively.
1. Which of the following is an advantage of the budgeting process? a. It forces management to focus on the past and not be distracted by the day-to-day operations of the business. b. It can communicate to employees specific information about their past performance to determine their promotion prospects. c. It can communicate to employees specific information about their past performance to determine their promotion prospects. d. It can communicate to employees information about their performance expectations in the period ahead. 2. Which one of the following statements regarding changing inventory costing methods is true? a. A change in inventory methods can be justified if the change is made to better match profits with revenue b. Changing inventory costing methods violates comparability c. One place that the reader of an annual report would be able to identify that a company changed inventory costing methods is the statement of shareholders' equity d. Changing inventory costing…
Which is the mostly likely purpose of budgeting? a. Assess the non-financial performance of an organization b. Planning and control of an organization's income and expenditure C.Preparation of a five-year business plan d. Company valuation
(B) For the purpose of effective budgetary control, it is imperative on the part of each entity to have definite ‘plan of organization’. This plan of organization is embodied in the organization chart. Assuming that you started your own business, make an organization chart according to your business activities and explain with an example how organization chart guide you to prepare different types of budgets explain
q: Budgeting: The various activities within a company should be coordinated bythe preparation of plans and actions for future periods. These detailed plans areusually referred to as budgets. Discuss the multiple functions of budgets. Q2: Agency theory: Briefly discuss the agency theory and highlight real lifechallenges and issues
1. If a company uses participative budgeting, which group should prepare the initial set of budget dollar amounts? a. Budget committee b. Operating department managers c. Top management d. Accounting department
(3) Explain the ethical considerations as it relates to using budgets as a basis for rewarding managers? (4)Explain three specific benefits that a system of budgetary planning and control may bring to an organization.