Internal Controls Accounting Multiple Choice Questions with Answers – PDF Download

MCQ 1: The budgeted income statement and the supporting budget schedules are categorized under:

1. focused statement
2. slack statement
3. budgeted income statement
4. operating budget

MCQ 2: The practice, which makes target more achievable by underestimating revenues or overestimating cost is called:

1. cost slack
2. target slack
3. budgetary slack
4. revenue slack

MCQ 3: The better administration of budget in budgeting plans require:

1. intelligent interpretations
2. participation
3. persuasion
4. all of above

MCQ 4: The compelling strategic plan, promoting coordination and providing framework of performance are:

1. advantages of budget
2. disadvantages of budget
3. advantages of costing method
4. disadvantages of costing method

MCQ 5: The master budget includes all the projections of company's budget and focuses on:

1. serial correlation
2. marketing plan
3. financial plan
4. both B and C