1.

Companies must prepare an annual budget

A. Because accounting rules require them to.
B. Because most countries’ tax laws require them to.
C. To plan the financial flows necessary to achieve the objectives previously set and analyze the
deviations once the year has started.
D. It is not a requirement. It is bureaucracy.

2. Strategic planning:
A. Integrates a multi-year plan (Business Plan) of income, expenses, cash flow, and changes in
the balance sheet.
B. Aligned with the Strategic Objectives and managed by a Scorecard.
C. Is grounded in the Budget for the current year.
D. All answers are correct.

3. The Budget Phases are in this order:

A. Schedule, Organization, Sizing, Coordination, Consolidation, Approval, Monitoring.
B. Schedule, Sizing, Coordination, Consolidation, Approval, Monitoring.
C. Schedule, Sizing, Organization, Coordination, Consolidation, Approval, Monitoring.
D. None of the above.

4. There are basically three types of budgets

A. Strategic, Commercial and Operational.
B. Operational, Strategic and Financial.
C. Operational, Strategic and Capital.
D. None of the above.

5. Deviations from the budget are

A. Economic and anti-economic.
B. Economic and activity-related.
C. A simple anecdote with no real practical use.
D. Activity-related and related to sub-activity.

6. The budget of a company is built with the budgets of

A. Sales and Production
B. Purchasing and Logistics
C. Structure and Investments
D. The sum of all the above

7. The most popular and used planning systems are:

A. Historical and Zero Base
B. ABB
C. Historical, Zero Base and ABB
D. Zero Base and ABB

8. The Forecast or Updated Forecast is:

A. A new budget updated with real data at that time plus the estimate for future months.
B. The estimation and monitoring of each and every one of the budget items.
C. Through the use of projection tools and techniques based on historical data, trends,
hypotheses, simulations, etc.
D. All of the above

9. Choose the correct statement

A. The rigid budget is the only reliable one. The flexible budget is only used when the rigid one
is inaccurate.
B. The flexible budget can only be prepared after the rigid budget, in the year that was budgeted
for and they are complementary.
C. The flexible budget is an improvement on the rigid budget that all modern
companies should accept, leaving the rigid budget behind despite it being easier to prepare.
D. Companies have to choose between rigid and flexible budgets because they are incompatible.

10. The Business Plan is

A. A formal document that brings together a set of short-term business objectives.
B. A formal document that brings together a set of medium-term business objectives.
C. A formal document that brings together a set of medium and long-term business objectives,
linked to the company's mission and its business model.
D. None of the above.