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The first step in creating a budget is to identify your expenses. True False?
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Certain budget reports are prepared monthly whereas others are prepared more frequently depending on the activities being monitored True False?
True
The finance department should work independently without the input of other department because there may be significant biases when creating proformas?
False
Household will supply as long as the wage they receive is less than the value of their leisure time true or false?
Household will supply as long as the wage received is less than the value of leisure time is a false statement. Household income must be more than leisure and necessities expenses to be able to sustain the monthly needs of a family, as well as have some savings. Ê
Is it true or false that most disadvantages of credit can be eliminated by wise use of credit?
It's 100% true, if you know how to use a credit card wisely it shouldn't cause you any problems as long as you make responsible purchases within your budget and make the payments on time.
Once you establish a good working relationship with a particular supplier you should make all of your purchases from that supplier.?
FALSE You are not allowed to use the same vendor continously. This allows all businesses to thrive.
What two basic elements of a budget are income and expenses True or False?
true
Is it true or false that a person's actual income saving and spending may not be exactly as planned on a budget?
It is true. Though planning a budget and having everything written down is beneficial to budgeting, unexpected expenses can occur that were not in the budget.
Is a budget a baby budgerigar?
False
True or False Income and expense columns are the primary components of a budget. a) True b) False?
false
Does the White House office prepare the federal budget for the next year?
True thewhite house does prepare the budget for the next year. False it does not
The main difference a flexible budget and a static budget is that a flexible budget does not contain fixed costs true or false?
true
Prepaid expenses are an example of an expense True or False?
true
Budget manual should be compiled after all budgets have been set.true or false?
Budget manual should be compiled after all budgets have been set.it is false
If you want to identify a base you feel it is that true or false?
that is dangerous. so its false
True or false-The direct labor budget begins with sales in units from the sales budget?
true
The robust us economy made it difficult to restore balance in the federal budget?
It is False!
In merchandise business sales minus operating expenses equals net income is this statement true or false?
False
