State whether the 'mechanics' are employees or independent contractors
An employee is not entitled to redundancy pay if they resign voluntarily before being made redundant even if they were aware of the possibility of redundancy.
Which of the following BEST describes the purpose of a flexible budget?
The following statements relate to fixed budgets and flexible budgets.
(i) If production levels far exceed those anticipated, relying on a fixed budget is likely to result in massive variances
(ii) Flexible budgets assist management control by providing dynamic, comparable information
(iii) Flexible budgets are always superior to fixed budgets Which statements are true?
articiPpation by staff in the budgeting process is often seen as an aid to the creation of a realistic budget and to the motivation of staff. There are, however, limitations to the effectiveness of such participation. Which of the following illustrates one of these limitations?
Which of the following statements about budgeting and motivation are true?(i) A target is more motivating than no target at all(ii) The problem with a target is setting an appropriate degree of difficulty(iii) Employees who are challenged tend to withdraw their commitment
Which of the following best describes a top-down budget?
In which of the following situations would the use of imposed budgets NOT be appropriate?
In which of the following circumstances is the use of a participative budgeting process appropriate?(i) In decentralised organisations(ii) When acceptance of the budget as fair and equitable is essential(iii) When an organisation's different units act autonomously
Which of the following best describes a controllable cost?