Accounting for AQA: Part 2: Chapter 10

Question 1

Management accounting can be used for setting prices for products.

True

False

Question 2

Responsibility for each budget is given to budget holders, so they can plan, make decisions and control costs.

True

False

Question 3

A sales budget is used to ensure that the business sells an identical quantity of products and revenue in each budget period.

True

False

Question 4

In a production budget, the production units for each budget period are calculated as sales, plus opening inventory, less closing inventory.

True

False

Question 5

The use of a labour budget allows any surplus or shortfall of labour hours to be identified.

True

False

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Accounting for AQA: Part 2: Chapter 10

Page 1 of 2 - There are 10 questions in total.

Question 1 Introduction

Question 1

Management accounting can be used for setting prices for products.

Question 2

Responsibility for each budget is given to budget holders, so they can plan, make decisions and control costs.

Question 3

A sales budget is used to ensure that the business sells an identical quantity of products and revenue in each budget period.

Question 4

In a production budget, the production units for each budget period are calculated as sales, plus opening inventory, less closing inventory.

Question 5

The use of a labour budget allows any surplus or shortfall of labour hours to be identified.

AAT Q2022 Books

Accounting for AQA: Part 2: Chapter 10

Page 1 of 2 - There are 10 questions in total.

Question 1 Introduction

Question 1

Management accounting can be used for setting prices for products.

Question 2

Responsibility for each budget is given to budget holders, so they can plan, make decisions and control costs.

Question 3

A sales budget is used to ensure that the business sells an identical quantity of products and revenue in each budget period.

Question 4

In a production budget, the production units for each budget period are calculated as sales, plus opening inventory, less closing inventory.

Question 5

The use of a labour budget allows any surplus or shortfall of labour hours to be identified.