Question:

The budget relating to……………….. must be prepared first and the other budgetsshould be prepared in the light of that factor.

A.

limiting factor

B.

materials

C.

labour

D.

production

Answer» a. limiting factor

Question:

……….budget gives differentbudgeted costs for different levels of activity.

A.

master

B.

fixed

C.

flexible

D.

all of these

Answer» c. flexible

Question:

…………..budget is designed to remain unchanged irrespective of the volume ofoutput or turnover attained.

A.

master

B.

fixed

C.

flexible

D.

all of these

Answer» b. fixed

Question:

……….is the consolidated summary of the various functional budgets.

A.

master budget

B.

sales budget

C.

performance budget

D.

cash budget

Answer» a. master budget

Question:

…………………budget is the most important budget and it forms thebasis on which all the other budgets are built up.

A.

production

B.

material

C.

cash budget

D.

sales

Answer» d. sales

Question:

………budget gives an estimate of the anticipated receipts and payment of cashduring the budget period.

A.

sales

B.

production

C.

cash

D.

master

Answer» c. cash

Question:

…….budget may be classified into material cost budget, labour cost budget andoverhead budget.

A.

cost of production

B.

purchase

C.

sales

D.

cash

Answer» a. cost of production

Question:

…………is a summary of all function budgets in a Capsule form.

A.

master budget

B.

sales budget

C.

performance budget

D.

cash budget

Answer» a. master budget

Question:

…………………budget is the preparation of budget starting from aclean state.

A.

performance

B.

zero base

C.

cash

D.

none of these

Answer» b. zero base