chapter 8 smartbook part #1

Question 1

Gathering feedback to ensure that the plan is being followed is referred to as __________.

Answer 1

controllling

Question 2

More accurate estimates and higher motivation are generally the result of using a(n) ______ budget.

imposed

continuous

participative

perpetual

Answer 2

participative

Question 3

Budgetary slack occurs when a manager submits a budget that is ______.

too difficult to attain

vague

much like budgets submitted over the previous few years

too easy to attain

Answer 3

too easy to attain

Question 4

A number of separate, but interdependent, budgets that formally lay out the company’s sales, production, and financial goals are contained in the ___________.

Answer 4

master budget

Question 5

A number of separate, but interdependent, budgets that formally lay out the company’s sales, production, and financial goals are contained in the ___________.

Answer 5

master budget

Question 6

Developing goals and preparing various budgets to achieve those goals is part of the
____________process.

Answer 6

planning

Question 7

When a manager creates a budget that is too easy to attain, Blank______ occurs.

perpetual budgeting

participative budgeting

self-imposted budgeting

budgetary slack

Answer 7

budgetary slack