MAAssistance in Paper F2 Budgeting!

Question) Which of the following statements about the budgets and costing standards is/are true? 1. Budgets and standards are similar because they can both be used in all situations, even if output cannot be measured. 2. A standard need not be expressed in monetary terms, whereas a budget is expressed in money terms. 3. Budgets are used for control purposed, standards are not. 4. A budget gives the planned total aggregate costs for a functional cost center whereas a standard shows the unit resource usage for a single. a) All four statements are true. b) None of the statements are true. c) Statements 2 & 4 are true. d) Statements 1 & 3 are true. Question) Which of the following would probably not be contained in a budget manual? a) A timetable for budget preparation. b) The allocation of a staff to a job. c) An organization chart. d) Specimen budgetary control reports. I would appreciate your assistance on this. Thanks, Shams