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Which of the following statement(s) is/are false?

Which of the following statement(s) is/are false?

Question 53. (A) Cost centers, profit centers, and investment centers can all be classified as responsibility centers. (B) The terms “direct fixed costs” and “indirect fixed costs” are synonymous with “traceable costs” and “common costs,” respectively. (C) Management by exception means that management will investigate areas where actual results differ from planned results if the items are material and controllable. (D) None of the above Answer: (D) All of the above

Question 56

Question 54. A major element in budgetary controlis: (A) The preparation of long-term plans (B) The comparison of actual results with planned objectives (C) The valuation of inventories (D) Approval of the budget by the stock-holders Answer: (B) The comparison of actual results with planned objectives

Question 55. Budget reports should be prepared (A) Daily (B) Monthly (C) Weekly (D) As frequently as needed Answer: (D) As frequently as needed

On the basis of the budget reports (A) Management analyzes differences between actual and planned results (B) Management may take corrective action (C) Management may modify the future plans (D) All of these Answer: (D) All of these

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I legs our funds to your completed property value your panels, reducing most security or dollars standards

Our very own Promise to the People

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