Business Studies

1011-UNH17 -V1 Level N Business Studies HW Sample Questions Exam Page 1 of 6 1. What does a budget system show? answer: Shows how much can be spent, gives managers a way to check whether they atomic number 18 on track. Most firms use system of budgetary laterality as a means of supervision. It also provides enough consumption power to finance vital needs such as building work, decoration, recruiting and paying staff. ref: Business Studies Level N page 107, social unit 17.1 2. What is a budget used for? upshot: No department spends more than it should avoiding unpleasant surprises Managers can judge their success or failure. Allows delegation of spending power to managers Helps be active staff in a department by assessing their capital punishment through budget figures. Ref: Business Studies Level N unit 17.2, page 107. 3. How is a budget used to depute spending power by branch managers? Solution: arm managers divide the branch budget between section managers who go out try to get all their shop floor workers to attend to meet the budget targets. Ref: Business Studies Level N Figure 17.1, page 108. 4. What does an expenditure budget do? Solution: Expenditure budget sets a maximum target for costs. consumption beyond this budget occasionally will be tolerated. Ref: Business Studies Level N unit 17.5, page 108. 5.

The sales revenue for a month was budgeted at $25,000, tho sour out to be $35,000. The costs were planned to be $25,000 but turned out to be $23,000. What can be tell about the ost and sales variance? Solution: Both atomic number 18 favorable Ref: Business Studies Level N unit 17.7, page111 SABIS® Proprietary 1011-UNH17 -V1 Level N Business Studies HW Page 2 of 6 6. What are the best criteria for setting budgets? Solution: To relate the budget nowadays to the business objective. To involve as many people as possible Ref: Business Studies Level N unit 17.6, page 110 7. What is a favorable variance? Solution: Is 1 that leads to higher than... If you want to get a full essay, bless it on our website: Ordercustompaper.com

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