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Question 1 A Budget O is a financial plan to control future operations and results. O All the above. is an estimate of revenues and expenses. e focuses on the importance of evaluating alternative actions before decisions are implemented. Question 2 Strategic Planning is continuous and looks where the company is going. O True False Question 3 2 pts Planning is anticipating in advance unexpected circumstances, occurrences, and situations so that there can be a fast response to a crisis. Operational O Contingency O Development Department Next Previous Question 4 Budgets are useful tools in allocating resources, making staff changes, scheduling production, and operating the business. True O False Question 5 is predicting the outcome of events. O Controlling O Planning O Auditing O Forecasting Question 6 Budgets begin with a zero balance and item amounts are justified within the budget. Incremental Zero-based O Activity-based Cash Question 7 budget is an overall financial and operating plan for a forthcoming calendar or fiscal year. Cash O Flexible O Static Master D Question 8 The budget is a listing of important long-term projects to be undertaken and capital to be acquired. capital expenditure incremental master cash Question 9 2 pts The budget looks at the increase in the budget in terms of dollars or percentages without considering the whole accumulated body of the budget, those increased amounts are then added to the previous amounts for a new period. master incremental O cash O activity-based Question 10 Budgets, budget costs for individual activities. These budgets are created with a top-down approach. . Static O Incemental O Master Activity-based