Budgeting

Please choose the most appropriate answer for each sentence.
  • 1

    Budgeting is a combination of mathematics and guesswork: some ..... are precisely known, while others are less clear.

  • 2

    Every company should prepare a complete budget and constantly ..... its performance against that budget.

  • 3

    Any variation from a budget should be investigated and explained, and ..... action should be taken to correct any problems.

  • 4

    When you have set a budget, you should ..... to it as much as possible, but revise it when necessary.

  • 5

    Budgeting itself can help a company reduce costs, because every item in it must be ..... beforehand.

  • 6

    The wrong way to prepare a budget is to simply include everything at last year's level plus annual ......

  • 7

    Focus first on the largest costs, since they should have the greatest ..... for reduction.

  • 8

    Do not overestimate the ..... sales for the budget period.

  • 9

    Creating a(n) ..... forecast requires estimating the expected monthly expenditures and matching those against the likely monthly income.

  • 10

    Many companies maintain a ..... budget, so that they are continually budgeting for this time next year.

Do you like our tests? Check out our shop!

We have ESL, TOEIC, TOEFL test compilations and much more!