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    Master Budget Quiz

    Uploaded by

    Honey Grace Calica Ramirez
    The document contains a test on strategic cost management and budgeting concepts. It includes multiple choice and enumeration questions testing understanding of terms like master budget, capital budgeting, sales budget, and zero-based budgeting. It also has an essay question asking about the importance of budgeting and how it can be efficient in a student's life.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Master Budget Quiz

    Uploaded by

    Honey Grace Calica Ramirez
    408 views3 pages
    The document contains a test on strategic cost management and budgeting concepts. It includes multiple choice and enumeration questions testing understanding of terms like master budget, capital budgeting, sales budget, and zero-based budgeting. It also has an essay question asking about the importance of budgeting and how it can be efficient in a student's life.

    Original Description:

    Budget strategy

    Original Title

    Master Budget quiz

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    The document contains a test on strategic cost management and budgeting concepts. It includes multiple choice and enumeration questions testing understanding of terms like master budget, capital budgeting, sales budget, and zero-based budgeting. It also has an essay question asking about the importance of budgeting and how it can be efficient in a student's life.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    408 views3 pages

    Master Budget Quiz

    Uploaded by

    Honey Grace Calica Ramirez
    The document contains a test on strategic cost management and budgeting concepts. It includes multiple choice and enumeration questions testing understanding of terms like master budget, capital budgeting, sales budget, and zero-based budgeting. It also has an essay question asking about the importance of budgeting and how it can be efficient in a student's life.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
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    The passage discusses strategic cost management and budgeting concepts such as master budgets, zero-based budgeting, and activity-based budgeting.

    A master budget is a comprehensive budget strategy for a specific period. It consists of interrelated operating and financial budgets.

    The five steps in developing a master budget are: 1) Sales forecast, 2) Production budget, 3) Direct materials budget, 4) Direct labor budget, 5) Manufacturing overhead budget

    OUR LADY OF THE PILLAR COLLEGE- SAN MANUEL INCORPORATED

    COLLEGE DEPARTMENT

    STRATEGIC COST MANAGEMENT

    NAME:

    Direction: Write the letter of your answer on the space provided before the number. ERASURES MEAN
    WRONG.

    I. MULTIPLE CHOICE

    1. A detailed plan for the acquisition and use of financial and other resources over a specified period of
    time.

    A. Master Budget

    B. Budget

    C. Budgetary control

    D. Strategy

    2. It is the process of preparing one or more budget.

    A. Strategy

    B. Budget

    C. Budgeting

    D. Income Statement

    3. Identifies required actions over 5- to -10 year period to attain a firms strategic goals and objectives.

    A. Long range plan

    B. Short term objectives

    C. Long term objectives

    D. Master Budget

    4. Process for evaluating, selecting and financing long term projects and programs, prepared to bring the
    organization's capabilities into lines with needs of its long range plan.

    A. Master Budget

    B. Long range plan


    C. Short term objectives

    D. Capital Budgeting

    5. It identifies the Strength, Weakness, Opportunities and Threats including internal and external factors.

    A. Strategy

    B. Master Budget

    C. Budgeting

    D. Cash budget

    6. It is the key factor in the determination of other budgets, including the direct materials budget, the
    direct labor budget and the manufacturing overhead budget.

    A. Sales budget

    B. Master budget

    C. Production budget

    D. Manufacturing budget

    7. It is a top- down budgeting process where in the top management prepares budgets for the entire
    organization, including those for lower- level operations.

    A. Participative budgeting

    B. Budget Committee

    C. Authoritative Budgeting

    D. Master Budget

    8. It is a budgeting approach that explicitly demands continuous improvement in operation processes


    and incorporates the improvements in the budget.

    A. Master budget

    B. Kaizen budgeting

    C. Zero- based budgeting

    D. Activity- based budgeting

    9. Budgeting process that encourages managers to be aware of activities or functions that have outlived
    their usefulnessor have been a waste of resources.
    A. Activity- based budgeting

    B. Master budget

    C. Zero based budgeting

    D. Kaizen budgeting

    10. It is a comprehensive budget strategy for a specific period. It consists of interrelated operating and
    financial budgets. It also refers to the process of preparing profit planning or targeting.

    A. Budgeting

    B. Master Budget

    C. Comprehensive Budget

    D. Budget

    II. ENUMERATION

    11-15. Enumerate the 5 steps in developing a Master Budget.

    III. ESSAY

    11-20. What is the importance of Budgeting and how it is efficient in your life as a student?

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