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Subjects

Business Studies

Budget

In Class 12 Business Studies, the topic Budget in the chapter Planning explains how an organisation expresses its expected activities and results in numerical terms for a specific period. Students learn how budgets support planning, coordination and control by setting targets, allocating resources and comparing actual performance with planned figures. The topic also helps them understand how deviations can guide corrective action and improve managerial decision-making.

Hard · Level 2 · 25 questions

TOPIC PRACTICE

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Up to 25 questions from this page. Select your focus, then start.

25 questions

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  1. Practical difficulties of lower levels may be missed
  2. Policy direction is never available
  3. Top management is not involved
  4. Resource approval becomes impossible
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  1. All targets remain secret
  2. Real departmental information is included
  3. Budget period ends
  4. Top management is not needed
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  1. Employee motivation may fall
  2. Cost will always become zero
  3. All variances will be favourable
  4. Budgetary control will be unnecessary
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  1. They impose more tax
  2. They stop cash flow
  3. Success may appear with little effort
  4. They reduce production capacity
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  1. It excludes all employees
  2. It can make targets more acceptable
  3. It deletes all records
  4. It stops planning
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  1. All expenses will become zero
  2. Managers will automatically take correct decisions
  3. Variance will never occur
  4. Concerned people will not understand targets and limits
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  1. Delay and rigidity in work may increase
  2. All plans will succeed automatically
  3. Expense will always be correct
  4. No review will be needed
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  1. Equal time on all items
  2. Principle of hiding expenses
  3. Management by exception
  4. Procedure setting
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  1. It always locks the previous budget
  2. It only creates standing rules
  3. It makes all expenses zero
  4. It keeps budget updated by adding a new period
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  1. Future costs may be estimated below their actual level
  2. Future costs may be estimated above their actual level
  3. A cash surplus will become certain
  4. Tax liability will automatically end
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  1. Because it affects statutory obligation and cash outflow
  2. Because it changes customer names
  3. Because it decides production colour
  4. Because it removes budget period
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  1. Owner name will change
  2. Legal identity will end
  3. Cash shortage may occur in paying dues
  4. Sales target will automatically be achieved
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  1. Because it helps handle unexpected expenses
  2. Because it permanently removes all expenses
  3. Because it stops production
  4. Because it makes budget oral
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  1. Because it always increases expense
  2. Because funds can be better used or invested
  3. Because surplus is always loss
  4. Because cash has no value
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  1. Hide the problem
  2. Delete all records
  3. Arrange short term finance
  4. Stop budget review
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  1. Variance will always end
  2. Employees may be motivated to achieve targets
  3. Budget period will be removed
  4. All costs will become zero
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  1. Advertisement and slogan
  2. Tax and building
  3. Sales and production budgets
  4. Employee and uniform
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  1. When there is no demand
  2. When employees are not available
  3. When production is always closed
  4. When demand temporarily exceeds normal capacity
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  1. It affects cost and resource requirement
  2. It tells customer age
  3. It removes all taxes
  4. It ends budget period
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  1. Risk of sudden demand or supply interruption
  2. Only risk of tax payment
  3. Risk of employee name change
  4. Risk of building colour change
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  1. Because it affects actual material and cost requirement
  2. Because it stops all sales
  3. Because it doubles cash receipts
  4. Because it ends loan
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  1. To blame without reason
  2. To hide records
  3. To understand reasons for variance and decide correction
  4. To approve budget without reading
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  1. Because comparison with actual results will be difficult
  2. Because expense will always be low
  3. Because sales will always rise
  4. Because cash will never be low
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  1. So that the budget becomes realistic and useful
  2. So that budget always remains secret
  3. So that all expenses stop
  4. So that no responsibility remains
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  1. Only reducing expenses
  2. Only controlling employees
  3. Only recording tax payment
  4. Giving numerical base to planning control coordination and resource allocation

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