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

Related MCQs

• …….budget may be classified into material cost budget, labour cost budget and overhead budget.
• ………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.
• Material budget consists of two parts, one is the consumption budget and another Is .
• …………………budget is the preparation of budget starting from a clean state.
• The budget prepared to estimate the research and development expenditure to be incurred during a specific period is .
• The budget which shows the budgeted quantity of output to be produced during a specific period is.
• .......................Under marginal costing, …………… costs are treated as period costs and charged to profit and loss account for the period for which they are incured.
• The budget which usually takes the form of budgeted profit and loss account and balance sheet is known as
• Inventory turnover ratio = Cost of …………………..during the period ÷ Cost of average inventory held during the period.