The 'Performance Budgeting' technique focuses on: MCQ with Answer and Explanation

Question Report Error
The 'Performance Budgeting' technique focuses on:
A. Cash flows
B. Inputs only
C. Past performance
D. Outputs and outcomes
Answer: Option D
Solution (By JKExamLibrary)
Performance budgeting links funding to results, emphasizing outputs and outcomes rather than just expenditure.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Practice More Accountancy and Book Keeping Questions

Question #1 Report Error
Assertion (A): Wages paid for erection of a new plant are debited to Plant and Machinery account. Reason (R): All expenses incurred to bring an asset to its working condition are capitalised. Choose the correct option:
A. Both A and R are true but R is not the correct explanation of A.
B. A is false but R is true.
C. Both A and R are true and R is the correct explanation of A.
D. A is true but R is false.
Discuss

Correct Answer: Option C

Explanation:
Wages for plant installation are capital expenditure, so A is true. R correctly explains why.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2 Report Error
Which of the following is a 'Revenue Reserve'?
A. Investment allowance reserve
B. Debenture redemption reserve
C. Capital redemption reserve
D. General reserve
Discuss

Correct Answer: Option D

Explanation:
General reserve is created out of revenue profits; others are specific reserves.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3 Report Error
Ind AS (Indian Accounting Standards) are converged with:
A. IFRS (International Financial Reporting Standards)
B. Chinese Accounting Standards
C. US GAAP
D. UK GAAP
Discuss

Correct Answer: Option A

Explanation:
To align with global practices, India developed Ind AS which are substantially converged with IFRS.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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