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Individual budget schedules are prepared to develop an annual comprehensive or master budget

Individual budget schedules are prepared to develop an annual comprehensive or master budget

Which of the following items would have to be included for a company preparing a schedule of cash receipts and disbursements for the calendar year 2015?

Question 40. The difference between fixed cost and variable cost has significance in preparation of (A) Flexible budget (B) Master budget (C) Cash budget (D) Capital expenditure budget Answer: (A) Flexible budget

Question 41. (A) The annual depreciation for the year 2015. (B) Purchase order issued in . (C) Dividends Alabama title loans to shareholders of record as of (D) Funds borrowed from a bank on a note payable taken out in with an agreement to pay the principal and all of the interest owed in .

Question 42. The budget schedule that would provide the necessary input data for the direct labour budget would be the: (A) Sales forecast (B) Raw materials purchases budget (C) Schedule of cash receipts and disbursements (D) Production budget Answer: (D) Production budget

Answer: (D) Funds borrowed from a bank on a note payable taken out in with an agreement to pay the principal and all of the interest owed in

Question 43. In a not-for-profit service firm, the sales budget is replaced by: (A) The production budget (B) A budget that identifies the various expenses (C) A budget that identifies the various services and the associated funds assigned to them (D) None of the above Answer: (C) A budget that identifies the various services and the associated funds assigned to them

Question 44. Which of the following budgets would not be present for both for-profit and not- for-profit service organizations? (A) Sales budget (B) Budgeted income statement (C) Budgeted balance sheet (D) Finished goods budget Answer: (D) Finished goods budget

Question 45. In a for-profit service firm, the sales budget is also the: (A) Merchandise purchase budget (B) Production budget (C) Direct materials budget (D) Overhead budget Answer: (B) Production budget