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Quizz Control Management

Quiz by Sophie Merceron

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8 questions
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  • Q1
    What was the subject of the last lesson of Control Management?
    Budgeting Process
    Transfer Pricing
    Cost of Good Manufactured
    The diversity in hairstyles of Peruvian lamas
  • Q2
    What is the definition of a budget?
    The expression of the action plan for each manager in monetary and economic terms
    A record or statement of financial expenditure or receipts relating to a particular period or purpose
    The prediction of what will happen or be needed in the future
    The prediction or estimate of future events, especially coming weather or a financial trend
  • Q3
    What is the first budget needed in the master budget elaboration ? (the red box)
    Question Image
    P&L budget
    Balance Sheet budget
    Sales budget
    Cash Flow budget
  • Q4
    What type of budget matches this picture ?
    Question Image
    Functional budget
    Master budget
    Operational plan
    Capital Investment budget
  • Q5
    What is the difference between a planning and a budget?
    A planning is about time while a budget is about money
    A budget is a quantified expectation for what a business wants to achieve while a planning is an estimate of what will actually be achieved
    A budget is a planning of 1 year or less
    A budget is an estimate of what will actually be achieved while planning is the process of drafting plans of what should be done in the future
  • Q6
    Organise these 3 types of plannings from the shortest term to the longest term vision
    Operational plan, Strategic plan, Budget
    Budget, Operational plan, Strategic plan
    Strategic plan, Operational plan, Budget
    Budget, Strategic plan, Operational plan
  • Q7
    What are rolling forecasts?
    Forecasts which are established 10 years (or more) ago in order to have long-term pursue
    Forecasts which can change during the year according to unexpected events
    Forecasts which can be used in all the Business Units of the company
    Forecasts which use different scenarios in order to predict any possibilities
  • Q8
    According to this chart, what is the most likely to happened on October the 1st ?
    Question Image
    New fiscal year
    Allocation of year bonuses
    Big board

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