Question

Match List-I with List-II 

List-I (Types of Budget)	List-II (Explanation)
(A) Revenue and Expense Budget	(I) Budget that reflects the anticipated income from the sales of products and controlling services
(B) Programme Budgeting	(II) Budget to provide a systematic method for allocating the resources in ways most effective to meet the goals
(C) Zero-based Budgeting	(III) Budget that divide enterprise programmes into "packages" and then calculate costs for each package from the bottom up
(D) Variable or Flexible Budgeting	(IV) Budget that adjusts targeted levels of costs for changes in volume

• A. A - I, B - II, C - III, D - IV
• B. A - I, B - III, C - II, D - IV
• C. A - I, B - II, C - IV, D - III
• D. A - III, B - I, C - IV, D - II

Hint:

Focus on the core idea: \textbf{Zero-based} starts from zero. \textbf{Flexible} adjusts with volume. \textbf{Programme} focuses on goals. \textbf{Revenue/Expense} is about income vs. spending.

Answer 1

The Correct Option is A

Step 1: Define budget types. Step 1:

Revenue and Expense Budget: Forecasts income and spending for a set period.
Programme Budgeting: Allocates resources to programs or activities to achieve goals.
Zero-based Budgeting (ZBB): Requires justification of all expenses for each period, starting from zero.
Variable or Flexible Budgeting: Adjusts to changes in activity levels, breaking costs into fixed and variable components.
Step 2: Match budget types (List-I) with explanations (List-II).
Step 2:

A. Revenue and Expense Budget matches I. ...anticipated income from the sales... and controlling services (expenses).
B. Programme Budgeting matches II. ...allocating the resources in ways most effective to meet the goals.
C. Zero-based Budgeting matches III. ...divide... programmes into "packages" and then calculate costs... from the bottom up.
D. Variable or Flexible Budgeting matches IV. ...adjusts targeted levels of costs for changes in volume.
Step 3: State the correct matching.
Step 3: The correct matching is A-I, B-II, C-III, D-IV.