How to Complete a Flexible Budget Performance Report

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Why create a flexible budget performance report?

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1. What does unfavorable mean on a flexible budget performance report?

2. What does favorable mean on a flexible budget performance report?

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About This Quiz & Worksheet

This quiz provides questions that check your familiarity with the terminology and significance of flexible budget reports. Our subject matter experts have designed this tool to see if you can apply these concepts toward being more in control of your company finances.

Quiz & Worksheet Goals

The quiz will test your knowledge of:

  • Logic behind creating a flexible budget performance report
  • Definition of unfavorable as it pertains to the report
  • Meaning of a flexible budget

Skills Practiced

Your skills will be tested, including:

  • Making connections - use understanding of flexible budgets as they relate to company performance
  • Defining key concepts - ensure that you can accurately define main terms, such as 'flexible budget performance report' and 'favorable'
  • Information recall - access the knowledge you've gained regarding the significance of creating a flexible budget performance report

Additional Learning

Get a greater understanding of this topic by reviewing the lesson, How to Complete a Flexible Budget Performance Report. It will build your knowledge about:

  • Where the budget report numbers come from
  • When the report is written
  • How management uses the report to make decisions
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