Edit Game
Budgets
 Delete

Use commas to add multiple tags

 Private  Unlisted  Public



 Save

Delimiter between question and answer:

Tips:

  • No column headers.
  • Each line maps to a question.
  • If the delimiter is used in a question, the question should be surrounded by double quotes: "My, question","My, answer"
  • The first answer in the multiple choice question must be the correct answer.

 Import questions





 Save   15  Close
What’s one possible business response to a large adverse variance?
 
Launch a promotion
 
Ignore the variance
 
Raise all prices immediately
 
Fire all staff
How might tariffs affect Nike’s budgets?
 
Increase expenditure
 
Reduce income
 
Increase profit
 
No effect
Which budget might change based on seasonal sales?
 
Income budget
 
Expenditure budget
 
Profit budget
 
Cash budget
Budgets are usually based on what?
 
Forecasts
 
Past feelings
 
Luck
 
Guesswork
What should a business do if it sees an adverse variance?
 
Investigate the cause
 
Celebrate
 
Cut all spending
 
Ignore it
Rent, salaries and materials are examples of what?
 
Expenditure
 
Income
 
Assets
 
Profit
Which of these is a feature of good budgeting?
 
Realistic
 
Confusing
 
Over-ambitious
 
Vague
What is a profit budget?
 
Expected income minus expected expenditure
 
Expected revenue only
 
Expected expenses only
 
Net cash flow
What is an expenditure budget?
 
A plan for expected costs
 
A plan for expected profit
 
A plan for expected income
 
A list of assets
What is an income budget?
 
A plan for expected revenue
 
A list of employee wages
 
An estimate of profit
 
Past financial summary
What’s one problem with setting budgets?
 
Inaccurate forecasts
 
Too much profit
 
Too many sales
 
Budget surplus
Why do businesses set budgets?
 
To control spending
 
To avoid taxes
 
To pay staff
 
To confuse competitors
What does a favourable variance mean?
 
The result was better than expected
 
The result was worse than expected
 
The same as expected
 
Revenue was lower than budgeted
How do you calculate a variance?
 
Budgeted - Actual
 
Actual - Budgeted
 
Budget + Actual
 
Revenue - Costs
What are the three main types of budgets?
Income, Expenditure, Profit
Your experience on this site will be improved by allowing cookies.