Q1. Unfavorable variance that occurs when:
A. actual costs are greater than budgeted costs.
B. actual costs are lower than budgeted costs.
C. actual costs equals budgeted costs.
D. actual costs are lower than sunk costs.
Q.2 A continuous (or perpetual) budget:
A. is prepared for a range of activity so that the budget can not be adjusted for changes in activity.
B. is a plan that is updated monthly or quarterly, dropping one period and adding another.
C. is a strategic plan that does not change.
D. is used in companies that experience no change in sales.
Q3Arshan Industries is a division of a major corporation. Last year the division had total sales of $23,380,000, net operating income of $2,828,980, and average operating assets of $7,000,000. The company’s minimum required rate of return is 12%.
Required: What is the division’s return on investment (ROI)?
Q4 Prepare a balanced scorecard with an example of your own.
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