Judgmental models are qualitative because they use expert opinion and previous experience to
determine the forecast.
Indicate whether the statement is true or false
TRUE
Business
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A flexible budget
a. is another name for management by exception. b. is developed at the end of the period. c. is based on the budgeted level of output. d. provides favorable operating results.
Business
If ending inventory is overstated, net income and assets will be:
Net Income...........Assets a. Understated......Understated b. Overstated.......Overstated c. Understated.....Overstated d. Overstated.........Understated
Business