ACC 202 EXAM STUDY GUIDE QUESTIONS
AND ANSWERS 100% CORRECT
⫸ True or false? Budgets coordinate the activities of the entire
organization by integrating the plans of its various parts. Answer:
True
⫸ Budgetary slack occurs when a manager submits a budget that is
Answer: too easy to attain
⫸ What is a revenue variance? Answer: The difference between what
revenue should have been at the actual level of activity and the actual
revenue.
⫸ lanning budgets are sometimes called _________budgets. Answer:
static
⫸ A budget that is prepared after the end of the period for the actual
level of activity is called a ______________budget. Answer: flexible
⫸ True or false? Budgets and the budgeting process can uncover
potential bottlenecks before they occur. Answer: True
⫸ Flexible budgets are prepared ________ the accounting period.
Answer: after
AND ANSWERS 100% CORRECT
⫸ True or false? Budgets coordinate the activities of the entire
organization by integrating the plans of its various parts. Answer:
True
⫸ Budgetary slack occurs when a manager submits a budget that is
Answer: too easy to attain
⫸ What is a revenue variance? Answer: The difference between what
revenue should have been at the actual level of activity and the actual
revenue.
⫸ lanning budgets are sometimes called _________budgets. Answer:
static
⫸ A budget that is prepared after the end of the period for the actual
level of activity is called a ______________budget. Answer: flexible
⫸ True or false? Budgets and the budgeting process can uncover
potential bottlenecks before they occur. Answer: True
⫸ Flexible budgets are prepared ________ the accounting period.
Answer: after
