Forums › ACCA Forums › ACCA MA Management Accounting Forums › Assistance in Paper F2 Budgeting!
- This topic has 1 reply, 2 voices, and was last updated 10 years ago by John Moffat.
- AuthorPosts
- September 2, 2014 at 7:43 am #193264
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
September 2, 2014 at 7:58 am #193268The answer to the first question is (C)
The answer to the second question is (D)
(Does the book you found these question in not also give the answers? 🙂 )
- AuthorPosts
- You must be logged in to reply to this topic.