D076 /
Lesson Tests Questions With Correct Answers
/ // // // // //
When /
/can /
/the /
/discretionary /
/financing //needed //(DFN) //be //determined? //- //correct //answer(s) //✔✔ //After //pro-
forma //financial //statements //are //forecasted //using //the //percent //of //sales //method
When /
/evaluating //
a/
/company's /
/performance, /
/what /
/can /
/variances /
/on //
a/
/company's /
/cash /
/budget /
/indicate? //- /
/correct /
/answer(s) /
/✔✔ //Variances //show //that //certain //managers //or //divisions //are //not //meeting //targets.
How /
/far /
/into /
/the /
/future /
,/do /
/cash /
/budgets //usually //forecast? //- //correct //answer(s) //✔✔ //Between //one //month //and //one //year
What /
/are /
/three /
/principles /
/of /
/budgeting /
/that /
/are /
/important /
/to /
/know /
/before /
/beginning /
/the /
/budgeting /
/process? //- /
/correct /
/answer(s) /
/✔✔ /
/Keep /
/records; /
/develop /
/savings, //income, //and //expense //strategies; //and //use //a //method //that //meets //your //needs //and
//objectives
What /
/are /
/the /
/three /
/main /
/uses /
/of /
,/cash /
/budgets? //- /
/correct /
/answer(s) /
/✔✔ /
/Cash //budgets //are //used //to //forecast //future //financial //need, //aid //in //performance //evaluation,
//and //show //when //corrective //action //is //needed.
Determine /
/cash /
/receipts, /
/estimate /
/cash /
/disbursements, /
/create /
/the /
/cash /
/budget //- /
/correct /
/answer(s) /
/✔✔ //What //is //the //correct //order //of //the //three //steps //necessary //to //create //a //cash //budget?
Because /
/it /
/is /
/specific /
/and /
/measurable //- /
/correct /
/answer(s) /
/✔✔ /
/Why /
/is //"put /
/$50 /
/in //
a/
, /savings /
/account /
/each /
/month /
/for //Christmas //gifts" //a //better //budgeting //goal //than //"save //money //for //Christmas //gifts"?
Because /
/the /
/payment /
/is /
/the /
/same /
/amount /
/each /
/month //- /
/correct /
/answer(s) /
/✔✔ //Why //would //a //monthly //mortgage //payment //be //considered //a //fixed //expense?
Compare /
/your /
/budgeted /
/cash /
/flows /
/to /
/your /
/actual /
/cash /
/flows, /
/and /
/then /
/revise /
/the /
/budget /
/if /
Lesson Tests Questions With Correct Answers
/ // // // // //
When /
/can /
/the /
/discretionary /
/financing //needed //(DFN) //be //determined? //- //correct //answer(s) //✔✔ //After //pro-
forma //financial //statements //are //forecasted //using //the //percent //of //sales //method
When /
/evaluating //
a/
/company's /
/performance, /
/what /
/can /
/variances /
/on //
a/
/company's /
/cash /
/budget /
/indicate? //- /
/correct /
/answer(s) /
/✔✔ //Variances //show //that //certain //managers //or //divisions //are //not //meeting //targets.
How /
/far /
/into /
/the /
/future /
,/do /
/cash /
/budgets //usually //forecast? //- //correct //answer(s) //✔✔ //Between //one //month //and //one //year
What /
/are /
/three /
/principles /
/of /
/budgeting /
/that /
/are /
/important /
/to /
/know /
/before /
/beginning /
/the /
/budgeting /
/process? //- /
/correct /
/answer(s) /
/✔✔ /
/Keep /
/records; /
/develop /
/savings, //income, //and //expense //strategies; //and //use //a //method //that //meets //your //needs //and
//objectives
What /
/are /
/the /
/three /
/main /
/uses /
/of /
,/cash /
/budgets? //- /
/correct /
/answer(s) /
/✔✔ /
/Cash //budgets //are //used //to //forecast //future //financial //need, //aid //in //performance //evaluation,
//and //show //when //corrective //action //is //needed.
Determine /
/cash /
/receipts, /
/estimate /
/cash /
/disbursements, /
/create /
/the /
/cash /
/budget //- /
/correct /
/answer(s) /
/✔✔ //What //is //the //correct //order //of //the //three //steps //necessary //to //create //a //cash //budget?
Because /
/it /
/is /
/specific /
/and /
/measurable //- /
/correct /
/answer(s) /
/✔✔ /
/Why /
/is //"put /
/$50 /
/in //
a/
, /savings /
/account /
/each /
/month /
/for //Christmas //gifts" //a //better //budgeting //goal //than //"save //money //for //Christmas //gifts"?
Because /
/the /
/payment /
/is /
/the /
/same /
/amount /
/each /
/month //- /
/correct /
/answer(s) /
/✔✔ //Why //would //a //monthly //mortgage //payment //be //considered //a //fixed //expense?
Compare /
/your /
/budgeted /
/cash /
/flows /
/to /
/your /
/actual /
/cash /
/flows, /
/and /
/then /
/revise /
/the /
/budget /
/if /
