Account Analysis and Budget Comparison (Junior Cert Business Studies): Quizzes
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Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What does account analysis involve examining?
What does account analysis involve examining?
Actual income & expenditure records
What type of approach does account analysis use?
What type of approach does account analysis use?
Evidence-based real transactions
Which should you examine when conducting account analysis?
Which should you examine when conducting account analysis?
Opening & closing cash/bank balances
O'Sullivan family's bank went from €600 to €1,200. What was the change?
O'Sullivan family's bank went from €600 to €1,200. What was the change?
Increase of €600
Which visual tool works best for showing expenditure breakdown?
Which visual tool works best for showing expenditure breakdown?
Pie charts
What does a budget comparison statement show?
What does a budget comparison statement show?
Planned vs actual spending
How do you calculate the difference in a budget comparison?
How do you calculate the difference in a budget comparison?
Actual - Budgeted
What does a positive difference in expenditure mean?
What does a positive difference in expenditure mean?
You overspent in this category
What does a negative difference in expenditure indicate?
What does a negative difference in expenditure indicate?
You spent less than budgeted
Murphy family: utilities budgeted €180, actual €160. What's the difference?
Murphy family: utilities budgeted €180, actual €160. What's the difference?
-€20
What benefit do bar charts provide for budget comparison?
What benefit do bar charts provide for budget comparison?
Quick visual ID of problem areas
What should you do with categories showing consistent overspending?
What should you do with categories showing consistent overspending?
Allocate higher budgets