Q. Labour budget is a part of .
✅ Correct Answer: (C)
Production budget.
Cost and Management Accounting (CMA) MCQs and Notes
Q. Materials purchase budget is prepared on the basis of .
✅ Correct Answer: (B)
Material consumption budget.
Q. Material budget consists of two parts, one is the consumption budget and another Is .
✅ Correct Answer: (A)
Material purchase budget.
Q. Material consumption budget is prepared on the basis of .
✅ Correct Answer: (A)
Production budget.
Q. The budget which shows the budgeted quantity of output to be produced during a specific period is.
✅ Correct Answer: (D)
Production budget
Q. Long-term budgets are prepared for .
✅ Correct Answer: (D)
5-10 years.
Q. Budget designed to remain constant irrespective of the level of activity attained is called .
✅ Correct Answer: (A)
Fixed budget.
Q. Budgetary control starts with .
✅ Correct Answer: (C)
Budgeting.
Q. The entire process of preparing the budgets is known as .
✅ Correct Answer: (C)
Budgeting.
Q. Operation budgets normally cover a period of .
✅ Correct Answer: (D)
one year or less.