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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a budget?
💡 Hint: Think of it as a financial roadmap.
Question 2
Easy
What are the primary objectives of budgeting?
💡 Hint: Consider what budgeting aims to achieve.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is budgeting?
- A detailed quantitative plan
- An informal financial estimate
- Just expenditures
💡 Hint: Recall what a budget serves as in an organization.
Question 2
Budgetary control involves comparing which of the following?
- Actual performance with planned targets
- Sales with production
- Resource allocation
💡 Hint: Think about how organizations maintain control over finances.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Your tech startup has a projected sales forecast of ₹10 lakhs, but the actual sales are only ₹7 lakhs. What steps would you take to handle this variance?
💡 Hint: Think about why sales might fall short and how you can respond strategically.
Question 2
A company follows a strict fixed budget and faces an unexpected increase in raw material costs. Discuss the potential consequences and how they might adapt.
💡 Hint: Consider how fixed budgets limit responsiveness to unexpected changes.
Challenge and get performance evaluation