Financial ratios can highlight a firm's financial performance with regard to liquidity, solvency, and profitability

By convention, short-term financial control is accomplished by all the following except:

a. Comparing actual to budgeted financial results. b. Calculating a series of cost and revenue variances at the end of the period. c. The use of flexible budgets and standard costs. d. Explaining the total operating-income variance for a given period. e. The use of productivity analysis.

Cash budgets do not provide reasonable predictions for asset requirements when the asset

purchases are lumpy. Indicate whether the statement is true or false