The information system that identifies records and communications of the economic events of an organization to interested users

Which of the following is an example of the benchmarking function of the budgeting process?

A) A budget demands integrated input from different business units and functions. B) Budgeting requires close cooperation between accountants and operational personnel. C) Budget figures are used to evaluate the performance of managers. D) The budget outlines a specific course of action for the coming period.

Which of the following best describes the term equivalent units?

A) partially completed units expressed in terms of fully completed units B) partially completed units of output that will be sold as is C) substitute of units that are partially completed D) different types of units that have same selling price