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ACC 241 Exam 3 Geiger 38 Questions with Verified Answers,100% CORRECT
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ACC 241 Exam 3 Geiger 38 Questions with Verified Answers
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ACC 241 Exam 3 Geiger 38 Questions with Verified AnswersBudgetary slack - CORRECT ANSWER the padding of the budget is done by a
manager who deliberately underestimates revenues or overestimates costs.
budgeted income statement - CORRECT ANSWER information from all operating
budgets can be combined to prepare this.
Budgeted production units (equation) - CORRECT ANSWER Budgeted unit sales +
budgeted ending finished goods inventory - budgeted beginning finished goods
inventory.
cash budget - CORRECT ANSWER the future oriented version of the statement of
cash flows. this budgets helps managers to determine whether they need to
borrow money to finance operations or whether they should invest excess cash to
earn interest.
centralized organization - CORRECT ANSWER decision-making authority is kept at
the very top of the organization. high level executives make all strategic and
operational decisions and charger lower-level managers with implementing those
decisions.
continuous budget - CORRECT ANSWER a moving twelve-month budget. as a
month expires in the budget, an additional month is added so that the company
always has a 12 month plan on hand.
Control tool for budgets - CORRECT ANSWER compare actual results with
budgeted (planned) amounts.
cost center - CORRECT ANSWER manager is responsible for controlling cost. they
do not generate revenue directly from customers. primary tool to manage costs
for these managers is the budgetary control system - flexible variances for costs.
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