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Discuss the most important steps in the operating budget process. Why are these more important than the other steps?

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BHA 4053 Part IV;Question 1;Which of the following is NOT one of the elements of the budget calendars used at RHMC?;outcome;responsible parties;activities;date;Question 2;Which of the following is not one of the three things needed to determine when the very first budget steps have to be taken in any given year?;The date that the budget must be presented to the board.;The amount of time needed between budget activities.;The amount of time needed for each activity.;The outcome of each activity.;Question 3;The largest expense item in the fringe benefit category is the _________.;health insurance expense.;tuition reimbursement.;worker's compensation.;unemployment insurance.;Question 4;The _________ determines the capital equipment to be acquired, buildings to be renovated, built, or leased, amounts to be spent, and the estimated useful life assigned to of these assets.;operating budget;capital budget;renovation budget;yearly budget;Question 5;is a concept sometimes used in volume budgeting, and it is, often employed as the means to balance a budget that for one reason or another does not come out right the first time.;Demographic changes;Physician inputs;Bonds;Wishful thinking;Question 6;Which of the following is one of the cons of top-down budgeting?;Administration is perceived as autocratic, not participative.;There is less chance of the managers needing to redo their work to "balance the budget" as the assumptions change.;The budget volumes may be closer to reality.;Managers have no incentive to set aggressive targets.;Question 7;Good management suggests that the _________ is always the first payment priority.;payment to trade vendors;payroll taxes to government;senior management payment;payroll;Question 8;Which of the following is one of the pros of bottom-up budgeting?;Administration is perceived as autocratic, not participative.;There is less chance of the managers needing to redo their work to "balance the budget" as the assumptions change.;The budget volumes may be closer to reality.;Managers have no incentive to set aggressive targets.;Question 9;is defined as revenues and expense levels as determined by each department manager and aggregated to establish the organization-wide budget.;Top-down budgeting;Bottom-up budgeting;Bottom-down budgeting;Organization-wide budgeting;Question 10;Which of the following is a pro of presenting a budget to the board of directors for approval 10 to 30 days before the next budget year begins?;There may not be enough time to prepare and deliver the results of the approved budget to the department managers.;The data and information used to project volumes is not current.;The data and information used to prepare the budget, particularly the volumes, are the most current available.;There is more time to prepare and deliver the results of the approved budget to the department managers.;Question 11;Discuss the most important steps in the operating budget process. Why are these more important than the other steps?;Question 12;Which is better the top-down budgeting process or the bottom-up methods? Why?;Question 13;(Chapters 6-7) Debate the issues relating to across-the-board labor cuts versus cuts predicated on labor standards. What are the pros and cons of each method? Which is preferable?

 

Paper#77086 | Written in 18-Jul-2015

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