…………………budget is the most important budget and it forms the basis on which all the other budgets are built up.

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 budget relating to ………….must be prepared first and the other budgets should be prepared in the light of that factor.
• 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
• Which of the following is normally the most appropriate sequence of events in the preparation of the indicated budgets?
• A budget that gives a summary of all the functional budget is known as
• ……………….is a summary of all function budgets in a Capsule form.
• ABC Ltd. has prepared the cash budget for the year 2014-2015 and provided the following information pertaining to sales value : Month Rs. April 2014 2,50,000 May 2014 2,80,000 June 2014 3,20,000 July 2014 3,50,000 20% of the monthly sales are expected to be on cash basis. 60% of the credit sales are expected to be realised in the month following the month of sales and remaining 40% are expected to be realized in the second month following the month of sale. The estimated cash receipts in the month of June 2014 are:
• ……………….budget gives an estimate of the anticipated receipts and payment of cash during the budget period.