MANAGEMENT ACCOUNTING
Quiz by Sujaritha PSGRKCW B.COM A&F
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4 questions
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- Q1
1. What is the primary purpose of a budget in an organization?
To comply with tax regulations
To plan and control financial resources
To assess employee performance
30s - Q2
2. Which type of budget covers a specific project or activity for a defined period?
Flexible budget
Project budget
Master budget
30s - Q3
3. A flexible budget is designed to:
Calculate historical costs
Maintain a consistent level of spending
Adjust for changes in activity levels
30s - Q4
4. What type of budget compares actual results with the budgeted figures and calculates variances?
Master budget
Zero-based budget
Variance analysis budget
30s