I would like have the answers for questions 65 – 130 ATTACHMENT PREVIEW Download attachment ACCA 310 FALL 2015 ASSIGNMENT QUIZ (3).docx ACCA 310 FALL 2015 ASSIGNMENT QUIZ CHAPTERS 7 TO 10 Multiple Choice: 1. The financial budget includes a. only the capital budget and the cash budget. b. only the capital budget and the budgeted balance sheet. c. the capital budget, the cash budget, and the budgeted balance sheet. d. the cash budget, the budgeted statement of cash flows, and the retained earnings budget. 2. Which of the following is considered a long range planning decision? a. addition or deletion of product line. b. design and location of new plants. c. acquisitions of buildings and equipment. d. all of the above. 3. A major drawback of using historical results for judging current performance is that a. past results may be incorrect. b. results may refer to a different manager. c. inefficiencies maybe concealed in the past performance. d. all of the above. 4. The master budget quantifies targets for all of the following EXCEPT a. sales. b. production. c. markets. d. cost-driver activity. 5. The master budget includes forecasts for all of the following EXCEPT a. sales. b. number of employees. c. balance sheets. d. cash disbursements. 6. Pro forma statements are most closely associated with a. master budget. b. operating budget. c. financial budget. d. strategic plans. 7. 8. ______________ set the overall goals and objectives of the organization. a. Strategic plans. b. Capital budgets. c. Pro forma statements. d. Continuous budgets. __________ detail the planned expenditures for facilities, equipment, new products, and other long-term investments is (are) a. a strategic plan. b. capital budgets. c. pro forma statements. d. continuous budgets. 9. Continuous budgets are a common form of a. strategic plans. b. capital budgets. c. pro forma statements. d. financial reports. 10. Which of the following is sometimes called rolling budgets? a. strategic plans b. capital budgets c. pro forma statements d. continuous budgets 11. Continuous budgets are constructed by a. adding a new goal as a current goal is achieved b. adding a new cost object as a current cost object is eliminated. c. adding a month in the future as the month just ended is dropped d. adding a year in the future as the current year just ended is dropped 12. Which of the following are components of a master budget? a. strategic plan and operating budget b. operating budget and financial budget c. continuous budget and static budget d. cash budget and activity budget 13. _______________ is a major part of the master budget that focuses on the income statement and its supporting schedules. a. b. c. d. An operating budget A financial budget A cash budget A capital budget 14. All of the following are operating budgets, EXCEPT a. The sales budget. b. The operating expenses budget. c. The budgeted income statement. d. The cash budget. 15. All a. b. c. d. of the following are operating budgets, EXCEPT The purchases budget. The capital budget. The cost of goods sold budget. The budgeted income statement. 16. All a. b. c. d. of the following are financial budgets, EXCEPT The purchases budget. The capital budget. The cash budget. The budgeted balance sheet. 17. All a. b. c. d. of the following are financial budgets, EXCEPT The budgeted balance sheet. The capital budget. The cash budget. The budgeted income statement. 18. Which of the following is NOT a major benefit of budgeting? a. It compels managers to think ahead. b. It provides definite expectations that are the best framework for judging subsequent performance. c. It aids managers in coordinating their efforts, so that the objectives of the organization as a whole match the objectives of its parts. d. It allows managers to operate day to day, reacting to current events rather than planning for the future. 19. Which of the following is generally prepared as the first step in preparing the operating budgets? a. sales budget