ACC 350 Final Study Questions and answers already passed 2025

ACC 350 Final Study Questions and answers already passed 2025 What is an example of the benchmarking function of the budgeting process? - correct answer Budget figures are used to evaluate the performance of managers What are the four budgeting objectives - correct answer 1. developing strategies 2. planning 3. acting 4. controlling The budgeting process - correct answer requires significant coordination among the company's various business segments What is an example of the planning function of the budgeting process? - correct answer The budget outlines a specific course of action for the coming period What are the three types of budgets - correct answer 1. Operating budget 2. Capital Expenditures budget 3. Financial budget Operating Budget - correct answer The set of budgets that projects sales revenue, cost of goods sold, and selling and administrative expenses, all of which feed into the cash budget and then the budgeted financial statements.