Budgets that are periodically revised and have new periods added to replace those that have lapsed are called:
A. Capital expenditures budgets.
B. Sales budgets.
C. Rolling budgets.
D. Cash budgets.
E. Production budgets.
Answer: C
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Which of the following is not true regarding normal costing systems?
A) A normal costing system predetermines overhead costs. B) A normal costing system assigns direct materials and direct labor to products using a predetermined rate. C) In a normal costing system overhead is assigned using a budgeted rate and actual activity. D) A normal costing system has less capacity for control than a standard costing system. E) All of these statements are true.
A company uses a process costing system. Its Welding Department completed and transferred out 100,000 units during the current period. The ending inventory in the Welding Department consists of 30,000 units (75% complete with respect to direct materials and 40% complete with respect to conversion costs). Determine the equivalent units of production for the Welding Department for direct materials and conversion costs assuming the weighted average method.
A. 122,500 materials; 112,000 conversion. B. 112,500 materials; 130,000 conversion. C. 130,000 materials; 112,000 conversion. D. 130,000 materials; 130,000 conversion. E. 107,500 materials; 118,000 conversion.
Customer preferences are permissible with regard to ________
a) women's health clubs b) servers in sports bars c) hospital nurses d) all e) none