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

Related MCQs

• ………………….budget may be classified into material cost budget, labour cost budget and overhead budget.
• Which of the following are purpose of a budget? i) Establishing strategic options ii)Motivating management iii) Establishing long term objectives iv) Planning operations
• The budget relating to ………….must be prepared first and the other budgets should be prepared in the light of that factor.
• 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:
• When job is very big and spread over long periods of time the method of costing adopted is
• A budget that gives a summary of all the functional budget is known as
• ……………..is an example of long-term budget
• Master budget comprises
• A master budget comprises the
• Which of the following statements is / are true with regard to flexible budgeting?