front 1 Sierra, a managerial accountant for Pepsi, develops estimates of how much each department will spend in the upcoming year. What task of managerial accounting is she completing? | back 1 budgeting |
front 2 Karen, a hedge fund manager, is considering investing in a new company. She is looking at the financial statement that gives her insight into what the company owes and owns. Which financial statement is it? | back 2 balance sheet |
front 3 Which is a factor that might cause a business to adjust its budget figures? | back 3 economic trends |
front 4 What is the relationship between a business’s goals and its budget? | back 4 Budgets translate a business’s goals into actual means for accomplishing them. |
front 5 After a business designates categories of expense in its budget, it: | back 5 allocates a dollar amount. |
front 6 To develop realistic budgets, existing businesses usually base their estimates on: | back 6 past performance. |
front 7 The owners of C&G Auto regularly review their budget to determine whether they are: | back 7 following their financial plans. |
front 8 How is a budget like a tree? | back 8 A budget is divided into categories and subcategories similar to branches. |
front 9 The master budget for Aubrey's Day Care Center is made up of information from: | back 9 specialized budgets that are generated by individual departments. |
front 10 What types of financial information are most useful to businesses? | back 10 timely and understandable |
front 11 For financial information to be comparable, it must also be: | back 11 consistent |
front 12 When a business decides to pay a loan off early due to a cash surplus, how is this business using financial information? | back 12 to manage debt |
front 13 A company looks at financial information and learns that it could save money by switching to a different Internet provider. This is an example of using financial information to: | back 13 reduce expenses. |
front 14 Which is a way that businesses can use financial information? | back 14 to identify trends |
front 15 A manager is most likely to use financial information when: | back 15 deciding if resources are available to fund a new project |