Quiz Time
Instruction: Answer the following questions (one (1) point each)
I – Write the correct word being referred in each statement.
VISION 1. It is the outline of the final map of the business.
MASTER PLAN 2. Combined budgets of different units of the
organization.
SHORT RANGE PLAN 3. It tends to focus on the action to be done in the
coming year.
GOAL 4. it states where all the activities and operation of the
business redirected.
MISSION 5. It sets the current business activities and outlines
what the business is for.
BUDGETING 6. a process of transforming the planned courses of
action into quantitative terms.
OBJECTIVE 7. It is expressed in more quantifiable terms to
highlight the specific aspects or details.
SALES BUDGET 8. Refers to the planned volume that the company is
expected to sell based on forecast sales.
PRODUCTION BUDGET9. Budget that gives an assurance that the units
required to produce the sales requirement for each period are
met.
FINANCIAL PLAN 10. a formal statement prepared by a company with
regards to the expected sales, expenses, production and other
related financial transactions for a certain period.
Instruction: Answer the following questions (one (1) point each)
I – Write the correct word being referred in each statement.
VISION 1. It is the outline of the final map of the business.
MASTER PLAN 2. Combined budgets of different units of the
organization.
SHORT RANGE PLAN 3. It tends to focus on the action to be done in the
coming year.
GOAL 4. it states where all the activities and operation of the
business redirected.
MISSION 5. It sets the current business activities and outlines
what the business is for.
BUDGETING 6. a process of transforming the planned courses of
action into quantitative terms.
OBJECTIVE 7. It is expressed in more quantifiable terms to
highlight the specific aspects or details.
SALES BUDGET 8. Refers to the planned volume that the company is
expected to sell based on forecast sales.
PRODUCTION BUDGET9. Budget that gives an assurance that the units
required to produce the sales requirement for each period are
met.
FINANCIAL PLAN 10. a formal statement prepared by a company with
regards to the expected sales, expenses, production and other
related financial transactions for a certain period.
