A budget report provides the basis for analyzing and revising spending activities of a company by comparing actual sales or costs with figures that were budgeted for those sales or costs

Changes in estimates are handled prospectively by dividing the asset's book value less any salvage value by the remaining estimated life.

a. true b. false

How managers choose to finance the business affects the company's risk, and as a result, the rate of

return stockholders receive on their investments. Indicate whether the statement is true or false