Which of the following statements about management by exception is incorrect?
A) Managers concentrate on results that are outside the accepted parameters.
B) There is no need to investigate variances that are less than 10%.
C) Exceptions can be expressed as a percentage of a budgeted amount or a dollar amount.
D) Many companies use a combination of percentages and dollar amounts.
B
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A company is analyzing its month-end results by comparing it to both static and flexible budgets
During the previous month, the actual sales price was higher than the expected sales price as per the static budget. This difference results in a(n) ________. A) favorable flexible budget variance for sales revenues B) favorable sales volume variance for sales revenues C) unfavorable flexible budget variance for sales revenues D) unfavorable sales volume variance for sales revenues
Which of the following is an element of mens rea?
a. A knowing act b. A purposeful act c. A reckless act d. All of the above