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46 Ty Chap2 MCQ PDF

The document contains 15 multiple choice questions related to budgetary control concepts. [1] Budgetary control refers to using budgets as a plan and control over future operations. [2] Budgetary control is the most useful technique to implement company objectives at minimum cost and maximum efficiency. [3] Planning, coordination and control are the three basic aspects of budgetary control. [4] A budget centre is a defined section of an organization for budgetary control purposes. [5] A budget manual sets out responsibilities, forms, and records required for budgetary control.

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3K views

46 Ty Chap2 MCQ PDF

The document contains 15 multiple choice questions related to budgetary control concepts. [1] Budgetary control refers to using budgets as a plan and control over future operations. [2] Budgetary control is the most useful technique to implement company objectives at minimum cost and maximum efficiency. [3] Planning, coordination and control are the three basic aspects of budgetary control. [4] A budget centre is a defined section of an organization for budgetary control purposes. [5] A budget manual sets out responsibilities, forms, and records required for budgetary control.

Uploaded by

Mohammed Mansoor
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Multiple Choice Questions

T.Y.B.Com
Cost and Works Accounting Paper III(3454)
Chapter-II
by
Dr.S.R.Pagare
1
________ plan serving as a pattern for and a control
over future operations is known as budget.

A] Operational
B] Financial
C] Functional
2
_________ control is the most useful technique in
implementing the objectives of the company with
minimum possible cost and maximum possible efficiency.

A] Budgetary
B] Inventory
C] Capability
3
_________ , co-ordination and control are three basis
aspects concerned with budgetary control.

A] Centralizing
C] De-centralizing
C] Planning
4
_________ is a section of the organisation of an
undertaking defined for the purpose of budgetary
control.

A] Cost centre
B] Budget centre
C] Cost Unit
5
A document which sets out the responsibilities of the
persons engaged in the routine of and the forms and
records required for budgetary control is known as
________ .
A] Budget Policy
B] Budget Book
C] Budget Manual
6
On the basis of ______ , budget is classified into long
term budget, short term budget and current budget.

A] Functions
B] Control
C] Time
7
On the basis of flexibility budget is classified into two
types such as fixed budget and ________ budget.

A] variable
B] Semi-variable
C] Constant
8
Variable budget is also known as _______ budget.

A] Fixed
B] Semi-variable
C] Flexible
9
The budget prepared according to ________ is known
as functional budgets.

A] Period
B] Controls
C] Functions
10
______ budget is a budget which is designed to
remain unchanged irrespective of the volume of
output or turnover achieved.

A] Fixed
B] Flexible
C] Cash
11
A Flexible budget is one which permits the change in
accordance with the changes in the level of activity.

A] Fixed
B] Flexible
C] Sales
12
Flexible budgets are more useful in actual practice
because it is more realistic and has great practical
utility in the business.

A] realistic
B] non-realistic
C] Predictable
13
A _______ budget is the budget which shows the
quantity and value of goods to be purchased during
the budget period to meet the day-to-day needs of
the business.
A] Sales
B] Cash
C] Purchase
14
One of the basic purpose to prepare _______ budget
is to estimate the cash requirements for the
purchases to be made during the budgeted period.

A] purchase
B] cash
C] sales
15
Purchase budget is prepared by the ________
manager.

A] Finance
B] Stores
C] Purchase
Reference:

Text book on Cost and Works Accounting Paper III


Authors: Dr.Suhas Mahajan, Dr.Mahesh Kulkarni
Nirali Prakashan
THANK YOU….

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