Check your knowledge

1.

Which one of the following options isn’t an advantage of using historical budgeting?

The budget is stable and change is gradual.

Allocating resources is efficient because it’s based on needs and benefits.

Managers can operate their departments on a consistent basis.

Companies avoid conflicts when departments appear to be treated similarly.

2.

When your organization sets up budgeting, which page should you start on?

Budgeting parameters

Budgeting workflows

Budgeting dimensions

Budget plans

3.

What can you use budget register entries for?

To create budget amounts

To transfer budget amounts

To allocate budget amounts across periods or dimensions

To create, transfer and allocate budget amounts.

Answer the following questions to see what you've learned.