Baruch College, CUNY - ACC 320016e_GNB_CH08_TB-final all answers correct Master Budgeting

Document Content and Description Below

File: 16e_GNB_CH08_TB, Chapter 8, Master Budgeting True/False [QUESTION] 1. The basic idea underlying responsibility accounting is that a manager should be held responsible for those items—and o... nly those items—that the manager can actually control to a significant extent. Answer: T Difficulty: 1 Easy Learning Objective: 08-01 Topic Area: Blooms: Remember AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 2. The budgeted income statement is typically prepared before the budgeted balance sheet. Answer: T Difficulty: 1 Easy Learning Objective: 08-01 Topic Area: Blooms: Remember AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 3. Control involves developing goals and preparing various budgets to achieve those goals. Answer: F Difficulty: 1 Easy Learning Objective: 08-01 Topic Area: Blooms: Remember AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 4. A continuous or perpetual budget is a 12-month budget that rolls forward one month (or quarter) as the current month (or quarter) is completed. Answer: T Difficulty: 1 Easy Learning Objective: 08-01 Topic Area: Blooms: Remember AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] [Show More]

Last updated: 11 months ago

Preview 1 out of 134 pages