ACC 561 Final Exam Questions
_____ models are mathematical models of the master budget that can react to any set of
assumption about sales, costs, and product mix.
A. Budgeting analysis
B. Accounting
C. Futuring
D. Financial planning
A sales forecast is _____.
A. a prediction of sales under a given set of conditions
B. the same as a sales budget that will generate a desired level of sales
C. all of these answers are correct
D. the result of decisions to create conditions
A _____ gives the expected sales under a given set of conditions.
A. sales prediction
B. budget forecast
C. sales forecast
D. sales budget
A _____ gives the expected sales under a given set of conditions.
A. sales prediction
B. budget forecast
C. sales forecast
D. sales budget
A _____ gives the expected sales under a given set of conditions.
A. sales prediction
B. budget forecast
C. sales forecast
D. sales budget
_____ need cost accounting systems.
A. Manufacturing firms and service organizations
B. Manufacturing firms and nonprofit organizations
C. Manufacturing firms, service organizations, and nonprofit organizations
D. Service organizations and nonprofit organizations
This study source was downloaded by 100000836386117 from CourseHero.com on 01-22-2022 00:01:06 GMT -06:00
https://www.coursehero.com/file/11779022/ACC-561-Final-Exam-Questions/
, _____ probably would not be used as a measure of activity in a flexible budget.
A. Sales volume
B. Number of machine hours used
C. Number of hours worked by salespeople
D. Number of direct labor hours worked
_____ are components of a master budget.
A. A continuous budget and a static budget
B. An operating budget and a financial budget
C. A strategic plan and an operating budget
D. A cash budget and an activity budget
The master budget quantifies targets for all of the following except _____.
A. markets
B. production
C. sales
D. cost driver activity
Costs are allocated for all the following purposes except to
A. determine inventory levels
B. obtain reimbursement
C. predict the economic effects of planning and control decisions
D. compute income and asset valuation
The following information is available for the Peter Company: Sales $150,000 Invested Capital
156,250 ROI 10% The return on sales is _____.
A. 10.00%
B. 62.50%
C. 10.42%
D. none of these answers is correct
Jewel Company's revenues are $300 and invested capital is $240. Expenses are currently 60% of
sales. Jewel Company's current return on investment is _____.
A. 50%
B. 80%
C. 100%
D. none of these answers are correct
This study source was downloaded by 100000836386117 from CourseHero.com on 01-22-2022 00:01:06 GMT -06:00
https://www.coursehero.com/file/11779022/ACC-561-Final-Exam-Questions/
_____ models are mathematical models of the master budget that can react to any set of
assumption about sales, costs, and product mix.
A. Budgeting analysis
B. Accounting
C. Futuring
D. Financial planning
A sales forecast is _____.
A. a prediction of sales under a given set of conditions
B. the same as a sales budget that will generate a desired level of sales
C. all of these answers are correct
D. the result of decisions to create conditions
A _____ gives the expected sales under a given set of conditions.
A. sales prediction
B. budget forecast
C. sales forecast
D. sales budget
A _____ gives the expected sales under a given set of conditions.
A. sales prediction
B. budget forecast
C. sales forecast
D. sales budget
A _____ gives the expected sales under a given set of conditions.
A. sales prediction
B. budget forecast
C. sales forecast
D. sales budget
_____ need cost accounting systems.
A. Manufacturing firms and service organizations
B. Manufacturing firms and nonprofit organizations
C. Manufacturing firms, service organizations, and nonprofit organizations
D. Service organizations and nonprofit organizations
This study source was downloaded by 100000836386117 from CourseHero.com on 01-22-2022 00:01:06 GMT -06:00
https://www.coursehero.com/file/11779022/ACC-561-Final-Exam-Questions/
, _____ probably would not be used as a measure of activity in a flexible budget.
A. Sales volume
B. Number of machine hours used
C. Number of hours worked by salespeople
D. Number of direct labor hours worked
_____ are components of a master budget.
A. A continuous budget and a static budget
B. An operating budget and a financial budget
C. A strategic plan and an operating budget
D. A cash budget and an activity budget
The master budget quantifies targets for all of the following except _____.
A. markets
B. production
C. sales
D. cost driver activity
Costs are allocated for all the following purposes except to
A. determine inventory levels
B. obtain reimbursement
C. predict the economic effects of planning and control decisions
D. compute income and asset valuation
The following information is available for the Peter Company: Sales $150,000 Invested Capital
156,250 ROI 10% The return on sales is _____.
A. 10.00%
B. 62.50%
C. 10.42%
D. none of these answers is correct
Jewel Company's revenues are $300 and invested capital is $240. Expenses are currently 60% of
sales. Jewel Company's current return on investment is _____.
A. 50%
B. 80%
C. 100%
D. none of these answers are correct
This study source was downloaded by 100000836386117 from CourseHero.com on 01-22-2022 00:01:06 GMT -06:00
https://www.coursehero.com/file/11779022/ACC-561-Final-Exam-Questions/
