Question 1

 Which of the following is not a component of time series?

Response: Advertising and sales
Correct answer: Advertising and sales
Score: 1 out of 1 Yes

Question 2
 Which of the following report usually is prepared by the Purchasing Manager?
Response: Direct materials budget
Correct answer: Direct materials budget
Score: 1 out of 1 Yes

Question 3
 Explain the importance of budgeting and forecasting.
Response:
Score: not graded yet

Question 4
 It is a time series graph wherein different values in the series are represented against
time.
Response: Historigram
Correct answer: Historigram
Score: 1 out of 1 Yes

Question 5
 Which of the following should be considered in preparing a Sales Budget?
Response: Past sales performance
Correct answer: Past sales performance
Score: 1 out of 1 Yes

Question 6
 Which of the following is not included in the preparation of the Functional Budget?
Response: Surplus Budget
Correct answer: Surplus Budget
Score: 1 out of 1 Yes

Question 7
 Match each item to a choice.
Response: This is the period for which a budget is prepared and used. => Budget
Period
Response: It is the collection of instructions governing the responsibilities of persons
and the procedures, forms and records relating to the preparation and use of budgetary
data. => Budget Manual
Response: It is a budget of income and or expenditure applicable to a particular
function. => Functional Budget
Response: It is a detailed quantitative plan for acquiring and using financial and other
resources over a specific time period. => Budget
Response: It is a planning tool that enables management to set a standard for all
departments within an organization, such as sales, finance, production, purchasing, etc.
=> Sales Budget
Correct answer: This is the period for which a budget is prepared and used. => Budget
Period, It is the collection of instructions governing the responsibilities of persons and
the procedures, forms and records relating to the preparation and use of budgetary
data. => Budget Manual, It is a budget of income and or expenditure applicable to a
particular function. => Functional Budget, It is a detailed quantitative plan for acquiring
and using financial and other resources over a specific time period. => Budget, It is a
planning tool that enables management to set a standard for all departments within an
organization, such as sales, finance, production, purchasing, etc. => Sales Budget
Score: 1 out of 1