Which Centre Is Responsibility Centre?


Profit Centre is accountable for all the actions associated with the sales of goods and production. Investment Centre- This center is responsible for both investments and revenue.

Types of Responsibility Centre:

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Which budget is prepared after functional budget?

6. Cash Budget: Cash Budget forecasts both the inflow and outflow of cash during the Budget Period. Since the business functions and transactions cause the flow of cash, this Budget is prepared after the preparation of all the Functional Budgets.


Which of the following is a functional budget Mcq?

Sales budget is a functional budget.


Which is the most likely purpose of budgeting Mcq?

The purpose of budgeting is to provide a financial framework for the decision making process i.e. is the proposed course action something we have planned for or not. In managing a business responsibly, expenditure must be tightly controlled.


What is the difference between functional and project budgets?

Functional budgets deal with familiar, repetitive work; project budgets deal with nonrepetitive, unique work efforts. Functional budgets are calculated from a base of work experience.


What is functional budget and master budget?

Budget prepared for each of the function is called as functional budget. These may be sales budget, Raw Material budget, expense budget, cash budget etc. A master budget is an aggregation of all lower level budget produced by the company for all functional areas.


What is in an operating budget?

It consists of all revenues and expenses your company expects to use for its operations. Operating budgets typically break down things like fixed and variable costs, revenue, and other expenses. Like with a regular business budget, many businesses tend to create their new annual operating budget at year-end.


What are the examples of a functional budget?

Functional budgets are associated with the functions of an organization. Examples of functional budgets include sales budgets, production budgets, labor budgets, cost budgets, overhead budgets, capital expenditure budgets, and cash budgets.


Which of the following is responsibility Centre Mcq?

N/A

Q.Which of the following is responsibility center?
B.Profit center
C.Investment center
D.All of the above
Answer» d. All of the above


Which of the following is not an example of a responsibility center Mcq?

Sales center is not a responsibility center as it only defines the amount of sales of an organisation in a particular year or period.


Which of the following is type of budget according to function?

Hence, operating budget is a functional budget.


What is a functional budget?

A functional budget is a budget which relates to any of the functions of an undertaking, e.g., sales, production, research and development, cash etc.


What is not a functional budget Mcq?

Which statement is true. I)Fixed budget assumes Changing business conditions. II)Flexible budget is prepared for only one level of activity.


Q.Which of the following is not a functional budget?
B.Cash budget
C.Materials budget
D.Expenses budget
Answer» a. Labour budget


What is budget classify it and explain the functional budget in detail?

Functional Budget: The budget which is concerned with the business functions is called as functional budget. It can be further classified as: Sales Budget: Sales budget is used to determine the quantity of anticipated sales and the expected selling price per unit.


Which Centre is responsibility Centre?

Profit Centre is accountable for all the actions associated with the sales of goods and production. Investment Centre- This center is responsible for both investments and revenue.

Types of Responsibility Centre:

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What does flexing the budget mean?

What is Flex Budgeting? A flexible budget, or “flex” budget varies with changes in the amount of actual revenue earned. In its simplest form, the flex budget will use percentages of revenue for certain expenses, rather than the usual fixed numbers.


What is the type of Indian economy Mcq?

The Indian economy that was known as an underdeveloped economy has now become a developing economy. However, it is described as a mixed economy.

Answer: B.

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What are the topics of Commerce?

Commerce

  • Introduction to Commerce.
  • Occupation.
  • Production.
  • Home Trade.
  • Foreign Trade.
  • Purchase & Sales Of Goods.
  • Advertising.
  • Financial Institutions.


Is inflation an MCQ?

Inflation is the general rise in the prices of goods and services in an economy, over a period of time. It reduces the purchasing power of consumers, because each unit of currency can purchase fewer products with an increase in the general price levels.

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Which of the following Cannot enter GDP?

Here is a list of items that are not included in the GDP: Sales of goods that were produced outside our domestic borders. Sales of used goods. Illegal sales of goods and services (which we call the black market)


What is another name for static budget?

Static budget is another name for: Fixed budget. Variable budget is another name for: Flexible budget.


Dated : 28-May-2022

Category : Education

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