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ACC 561 Week 5 Quiz Wiley Answers

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ACC 561 Week 5 Quiz Wiley Answers
Description / Instructions: Complete the Week 5 WileyPLUS Practice Quiz.
Question 1





Question 2

 !
!

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Question 3
"
#!
#
"
"
Question 4

$!
%&'

(

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ACC 561 Week 5 Quiz Wiley Answers Description / Instructions:?Complete the Week 5 WileyPLUS Practice Quiz. Question 1 Why are budgets useful in the planning process? They provide management with information about the company's past performance. They help communicate goals and provide a basis for evaluation. They guarantee the company will be profitable if it meets its objectives. They enable the budget committee to earn their paycheck. Question 2 A common starting point in the budgeting process is past performance. to motivate the sales force. a clean slate, with no expectations. expected future net income. Question 3 Which of the following statements about budget acceptance in an organization is true? Budgets are hardly ever accepted by anyone except top management. Budgets have a greater chance of acceptance if all levels of management have provided input into the budgeting process. The most widely accepted budget by the organization is the one prepared by the department heads. The most widely accepted budget by the organization is the one prepared by top management. Question 4 What is budgetary control? Another name for a flexible budget The degree to which the CFO controls the budget The use of budgets in controlling operations The process of providing information on budget differences to lower level managers Question 5 The compa ...
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