Quizz Control Management

Quiz by Sophie Merceron

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Q 1/8
Score 0
What was the subject of the last lesson of Control Management?
29

Budgeting Process
Transfer Pricing
Cost of Good Manufactured
The diversity in hairstyles of Peruvian lamas

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
10s
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
30s
Q3
What is the first budget needed in the master budget elaboration ? (the red box)
P&L budget
Balance Sheet budget
Sales budget
Cash Flow budget
20s
Q4
What type of budget matches this picture ?
Functional budget
Master budget
Operational plan
Capital Investment budget
20s
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
30s
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
20s
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
30s
Q8
According to this chart, what is the most likely to happened on October the 1st ?
New fiscal year
Octoberfest
Allocation of year bonuses
Big board
20s

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