A budget that gives a summary of all the functional budget is known as

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.
• ……………….is the consolidated summary of the various functional budgets.
• ……………….budget gives an estimate of the anticipated receipts and payment of cash during the budget period.
• 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
• The primary difference between a fixed budget and a variable(flexible) budget is that a fixed budget:
• …………………budget is the most important budget and it forms the basis on which all the other budgets are built up.
• ……………..determines the priorities of functional budget.
• ……………….is a summary of all function budgets in a Capsule form.
• …………………budget gives differentbudgeted costs for different levels of activity.