Exam (elaborations)
AC-642 Final Questions And Answers Latest Update
- Course
- AC642
- Institution
- Boston University
AC-642 Final Questions And Answers Latest Update
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Solution 2024/2025Pepper
AC-642 Final Questions And Answers Latest
Update
Administrative expense budget ANS✔✔ a budget consisting of estimated
expenditures for the overall organization and operation of the company.
Budget committee ANS✔✔ a committee responsible for setting budgetary
policies and goals, reviewing and approving the budget, and resolving any
differences that may arise in the budgetary process.
Budget director ANS✔✔ the individual responsible for coordinating and
directing the overall budgeting process.
Budgetary slack ANS✔✔ the process of padding the budget by
overestimating costs and underestimating revenues.
Budgets ANS✔✔ a plan of action expressed in financial terms.
Capital expenditures budget ANS✔✔ a financial plan outlining the
acquisition of long-term assets.
Cash budget ANS✔✔ a detailed plan that outlines all sources and uses of
cash.
Continuous budget ANS✔✔ a moving 12-month budget with a future month
added as the current month expires.
, Solution 2024/2025
Pepper
Control ANS✔✔ the process of setting standards, receiving feedback on
actual performance, and taking corrective action whenever actual
performance deviates significantly from planned performance.
Controllable costs ANS✔✔ costs that managers have the power to influence.
Direct labor budget ANS✔✔ a budget showing the total direct labor hours
needed and the associated cost for the number of units in the production
budget.
Direct materials purchases budget ANS✔✔ a budget that outlines the
expected usage of materials production and purchases of the direct
materials required.
Dysfunctional behavior ANS✔✔ individual behavior that conflicts with the
goals of the organization.
Effectiveness ANS✔✔ the manager's performance of the right activities.
Measures might focus on value-added versus non-value-added activities.
Efficiency ANS✔✔ the performance of activities. May be measured by the
number of units produced per hour or by the cost of those units.
Ending finished goods inventory budget ANS✔✔ a budget that describes
planned ending inventory of finished goods in units and dollars.
Chase ANS✔✔ Da Realest Eva'
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