Exam 14: Budgeting and Managing Costs Creatively

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Match each statement to the item listed below
Premises:
costs that are relatively constant, for example rent or insurance; also called overhead.
Responses:
financial statement
fixed costs
budget
Correct Answer:
Verified
Premises:
Responses:
costs that are relatively constant, for example rent or insurance; also called overhead.
financial statement
(Matching)
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It is unconstitutional for law enforcement agencies to charge for provision of traditional services such as DUI arrests.

(True/False)
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Describe the various budgeting systems and discuss the advantages and disadvantages of each.

(Essay)
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All law enforcement employees should contribute ideas related to budget items as specific needs arise.

(True/False)
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_____________________ are set aside for such unforeseen emergencies, but the precise total of allowable expenditures is difficult to ascertain.

(Short Answer)
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Of the total amount budgeted for salaries and wages, fringe benefits usually receive about ____________ percent of the allocation.

(Multiple Choice)
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Budgets are formally approved statements of future expenses throughout the ___________ year.

(Short Answer)
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A ___________ grant is awarded to states or localities based on population and crime rates.

(Multiple Choice)
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A basic starting point for budget preparation is __________.

(Multiple Choice)
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When managers at each level are responsible for the budget they need based on input from their subordinates, it is known as _________________ budgeting.

(Multiple Choice)
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A budgeting system in which dollars are allocated based on productivity is called __________.

(Multiple Choice)
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Line-item budgeting was initiated during the 1930s and is no longer popular.

(True/False)
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Long-term expenses are easier to plan for than short-term expenditures.

(True/False)
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The federal government's fiscal year begins in __________.

(Multiple Choice)
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Discuss the advantages and disadvantages of a quartermaster system.

(Essay)
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Chiefs should develop a mind-set that sees budgeting as a year-round process, not just a task that occurs once a year.

(True/False)
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Salaries and benefits are considered direct expenses.

(True/False)
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According to your text, the asset forfeiture program has three goals. Which is not a goal of the asset forfeiture program?

(Multiple Choice)
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All are examples of ways to cut budgets according to your text except __________.

(Multiple Choice)
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Match each statement to the item listed below
Premises:
expenses that do not vary in total during a period, for example, rent and insurance
Responses:
overhead
fiscal year
financial statement
Correct Answer:
Verified
Premises:
Responses:
expenses that do not vary in total during a period, for example, rent and insurance
overhead
(Matching)
4.7/5
(86)
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