When actual input data from past periods is used to develop a budget
a. past inefficiencies are excluded.
b. expected future changes are incorporated.
c. information is available at a low cost.
d. audited financial information must be used.
Ans: c. information is available at a low cost.
Business
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Which item may be of concern when analyzing cash flow from financing activities?
a. Increasing inventories. b. Borrowing each year to repay debt from prior years. c. Repayment of debt. d. Payments of dividends.
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Temperature is an example of
a. a categorical variable b. a quantitative variable c. either a quantitative or categorical variable d. neither a quantitative nor categorical variable
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