The pro forma income statement is not a component of the
a. master budget.
b. financial budgets.
c. operating budgets.
d. capital budget.
D
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Which one of the following is not a procedure in the approval of a specific invoice for payment?
a. The purchase requisition, purchase order, receiving report, and invoice are compared. b. The extensions and footings on the invoice are verified. c. An employee verifies that all of the approval activities have been completed before a check is prepared. d. The purchasing department prepares a voucher to request payment.
When forming an opinion on special purpose financial statements, which of the following items does the auditor not need to evaluate?
a. Whether the financial statements adequately describe the applicable financial reporting framework. b. Whether the financial statements have the appropriate title. c. Whether the financial statements include a summary of significant accounting policies. d. Whether the financial statements differ in GAAS presentation.
The breakeven point is the level of activity at which fixed costs are recovered
Indicate whether the statement is true or false
Which of the following is a disadvantage of relying only on interviews with incumbents for job analysis information?
A. They lack familiarity with the job B. They don’t understand the qualitative data associated with the job C. They may exaggerate their job duties D. They are unable to understand safety issues associated with the job E. The method is highly complex and requires significant time and resources