1. (TCO 2) If initial budgets prove unacceptable,

1. (TCO 2) If initial budgets prove unacceptable,

1. (TCO 2) If initial budgets prove unacceptable, planners achieve the MOST benefit from (Points : 3) planning again in light of feedback and current conditions.
deciding not to budget this year. accepting an unbalanced budget. using last year’s budget. 2. (TCO 2) To gain the benefits of budgeting, ________ must understand
and support the budget. (Points : 3) customers management at all levels suppliers All of the above 3. (TCO 2) Financial budgets include the (Points : 3)
administrative costs budget. capital expenditures budget. production budget. marketing costs budget. 4. (TCO 2) A flexible budget (Points : 3) provides favorable
operating results. is based on the budgeted level of output. is developed at the end of the period. is another name for management by exception. 5. (TCO 2) A
variance is (Points : 3) the difference between a budgeted amount and a standard amount. the gap between an actual result and a benchmark amount. the required
number of inputs for one standard output. the difference between an actual result and a budgeted amount.