Devry Busn 278 Midterm Exam - Updated

DeVry BUSN 278 Midterm Exam - Updated

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DeVry BUSN 278 Midterm Exam - Updated

(TCO 1) Why are budgets useful in the planning process?

They provide management with information about the company's past performance.

They help communicate goals throughout the organization.

They guarantee the company will be profitable if it meets its objectives.

They enable the budget committee members to earn their paychecks

Question 2. Question : (TCO 2) The quantitative forecasting method that uses actual sales from recent time periods to predict future sales, assuming each period has equal influence on the prediction of future sales, is the _____.

: moving average model

weighted moving average model

exponential smoothing model

equal average model

Points Received: 5 of 5

Comments:

Question 3. Question : (TCO 3) The regression statistic that measures how many standard errors the coefficient is from zero is the _____.

: correlation coefficient

coefficient of determination

standard error of the estimate

t-statistic

Points Received: 0 of 5

Comments:

Question 4. Question : (TCO 4) Capital expenditures are incurred for all of the following reasons except _____.

: as preventive maintenance

to counteract competition

decreased production

improvement in product quality

Points Received: 0 of 5

Comments:

Question 5. Question : (TCO 5) Which of the following is not true when ranking proposals using zero-base budgeting?

Due to changing circumstances, a low-priority item may later become a high-priority item.

Decision packages are ranked in order of increasing benefit.

Divisional and departmental managers submit initial recommendations, with top management making the...