Commercial Studies MCQ

The __________ budget contains an estimate of the total volume of production week wise, month wise and product wise.

The process of preparing budgets is known as

The ________ budget is a summary of all the budgets.

A _________ is an estimate of probable events that can be made by anybody.

The budget that forms the fundamental basis of all budgets and lays down the revenue goals of an enterprise is the :

Budgets bring _________ to the working of a business firm.

Which factors are taken into consideration while preparing production budget?

A ________ represents a state of control. On the other hand, a _________ represents events over which no control can be exercised.

A __________ is a judgement that can be made by anybody while a _________ is a plan that requires authority of management.

This budget is a summary statement of the firm's expected inflows and outflows of cash over a future time period.

It helps to ensure that the required items are available as and when needed for smooth functioning of the business.

Production budget is prepared to achieve which of the following objectives?

It is the basis for preparing plans and budgets.

A budget relates to a _________ period

Budgets are an important tool of

A _______ is a quantitative plan prepared in advance for a future time period.

The starting point in preparation of master budget is

Budgeting is the process of preparing ______.

What is the primary purpose of creating a budget?

A budget is tool which helps the management in planning and control of -

_________is a detailed budget of cash receipts and cash expenditure incorporating both revenue and capital items.

Sales budget shows the sales details as

Production budget is dependent on

Which budget is also known as summary budget?

Which of the following is not the part of master budget?

________ budget contains details about the quantity and quality of various things which the firm needs to purchase during the coming year.