Sample Question: All Correct

1. Why are budgets useful in the planning process?
2. A common starting point in the budgeting process is
3. Which of the following statements about budget acceptance in an organization is true?
4. What is budgetary control?
5. The comparison of differences between actual and planned results
6. A static budget
7. A responsibility report should
8. Which responsibility centers generate both revenues and costs?
9. The linens department of a large department store is
10. What is a standard cost?
11. Using standard costs
12. Unfavorable materials price and quantity variances are generally the responsibility of the