Going through the Budgetary Control – Corporate and Management Accounting CS Executive MCQ Questions with Answers you can quickly revise the concepts.
Budgetary Control – Corporate and Management Accounting MCQs
Question 1. A budget is all of the following, except: (A) A plan which will ensure the generation of future profits (B) A system which helps to co-ordinate internal activities (C) A system to integrate the operations for future activity (D) A financial plan for the future Answer: (D) A financial plan for the future
Question 2. For a budget to be useful and relevant for performance measurement it should satisfy all of the following, except: (A) It will be flexible for a range of possible activity volumes (B) It should have involved subordinate staff in the preparation (C) Will have been agreed by those being evaluated (D) It will have been imposed from the highest level of management Answer: (D) It will have been imposed from the highest level of management
Question 3. Which of the following is not a function of budgeting? (A) Decision making (B) Controlling (C) Planning (D) Motivating Answer: (A) Decision making
Question 4. The term “budgetary period” relates to: (A) The period in which the budget is finalized (B) The period for which the budget is prepared (C) The subdivisions of the main budget (D) A specific year for which the budget has been prepared Answer: (B) The period for which the budget is prepared