…………………is a budget which is updated continuously by adding a further period (a month/quarter) and deducting a corresponding earlier period.

Related MCQs

• Which of the following is / are true with regard to the period of budget? i) the budget period depends on the nature of industry ii) master budget is prepared annually while functional budget may be for different periods iii) Basic budget is the long term budget
• ………………….budget may be classified into material cost budget, labour cost budget and overhead budget.
• The primary difference between a fixed budget and a variable(flexible) budget is that a fixed budget:
• ABC ltd. uses the following flexible budget formula to annual maintenance cost: Total cost = Rs. 6720 + Rs. 0.64 for machine hour The current month's budget is based on 20,000 hours of planned machine time. The maintenance cost included in this flexible budget for the current month is
• ……………….budget gives an estimate of the anticipated receipts and payment of cash during the budget period.
• …………………budget is the most important budget and it forms the basis on which all the other budgets are built up.
• A budget that gives a summary of all the functional budget is known as
• A company has the following budget for the six month: Finished product Materials Sales - 7,000 units Usage per unit - 3 kg Production units - 7200 units Opening stock - 400 kg Closing stock - 500 kg What is the material purchase budget for the month?
• …………………budget is the preparation of budget starting from a clean state.
• Cash Budget is a ……………….budget.