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FMVA CFI Test Questions & Answers 2024/2025
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FMVA CFI Test Questions & Answers 2024/2025 Identify which trait below about incremental budgeting is FALSE 1. Inputs or actives are determined by the budgeted outputs 2. It takes previous years' actual figure and add or subtract a certain percentage from it to make the new year's budget 3....

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  • August 28, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • fmva cfi test questions answers

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  • FMVA CFI
  • FMVA CFI

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FMVA CFI Test Questions & Answers
2024/2025

Identify which trait below about incremental budgeting is FALSE

1. Inputs or actives are determined by the budgeted outputs

2. It takes previous years' actual figure and add or subtract a certain percentage from it to make the new
year's budget

3. It can carry over mistakes or slack budgets from previous years

4. It is the most commonly used method of budgeting - ANSWERSInputs or actives are determined by the
budgeted outputs



Identify which of the following is not a goal of the variance dashboard

1. Conveying a lot of information as quickly as possible

2. Using graphs in place of tables where appropriate

3. Presenting several different types of information all on one screen

4. A detailed written report - ANSWERSA detailed written report



Identify the cause of an unfavorable variance in profit

1. Actual labor cost is lower than budget

2. Actual sales volume is higher than budget

3. Actual sales price is higher than the budget

4. Actual material cost is higher than the budget - ANSWERSActual material cost is higher than the
budget



What is the main argument of "Beyond Budgeting"?

1. There should be a shift from operational budgeting to cash budgeting

2. Firms today need to be more flexible and responsive to deal with unpredictable change, hyper
competition and increasingly fickle consumers

3. Traditional budgeting principles are too limited and should be increased to 12 principles

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