Question $1$:$-$ Income Statement Budget include$($s$)$ all of the following EXCEPT:

a$)$ Selling & distribution expenses budget

b$)$ General & administrative expenses budget

c$)$ Financial charges budget

d$)$ Cash budget

Question $2$:$-$ Which one of the following would be considered a user of management accounting information?

a$)$ Creditors

b$)$ Suppliers

c$)$ Shareholders

d$)$ None of the above

Question $3$:$-$ A just in time $($JIT$)$ manufacturing system should lead to:

a$)$ Higher levels of stock being held in the warehouse

b$)$ Lower stock holding costs being incurred

c$)$ A wider range of stock items being made available

d$)$ An increase in the number of suppliers of stocks.

Question $4$:$-$ Which of the following is NOT normally considered part of a company$`$s value chain?

a$)$ research and development

b$)$ production

c$)$ inspection

d$)$ marketing

Question $5$:$-$ Which of the following sentences is the best description of zero$-$base budgeting?

a$)$ Zero$-$base budgeting is a technique applied in government budgeting in order to have a neutral effect on policy issues

b$)$ Zero$-$base budgeting requires a completely clean sheet of paper every year, on which each part of the organization must justify the budget it requires

c$)$ Zero$-$base budgeting starts with the figures of the previous period and assumes a zero rate of change

d$)$ Zero based budgeting is an alternative name of flexible budget