In a system whereby all activities are revaluated each time a budget is formulated and starts with the assumption that requirement of funds does not exist is called

Related MCQs

• In comparing a fixed budget with a flexible budget, what is the reason for the difference between the profit figures in the two budgets?
• When budget allowances are set without the involvement of the budget owner, the budgeting process can be described as:
• Akash Ltd. is preparing its cash budget for the period. Sales are expected to be Rs. 1,00,000 in April, 2016; Rs. 2,00,000 in May 2016 Rs. 3,00,000 in June 2016 and Rs. 1,00,000 in July 2016. Half of all sales are cash sales and the other half are on credit. Experience indicates that 70% of the credit sales will be collected in the month following the sale, 20% the month after that and, 10% in the third month after the sale. The budgeted collection for the month of July, 2016 is:
• A budget that gives a summary of all the functional budgets and projected Profit and Loss A/c is known as
• Which one of the following is not to be considered for preparing a production budget?
• Which of the following is not an example of functional budget?
• Flexible budget requires a careful study of:
• Which of the following is an essential of a budget?
• When preparing a production budget, the quantity to be produced equals
• If budgets are prepared of a business concern for a certain period taking each and every function separately such budgets are called _________.