All of the following are needed to prepare a flexible budget except:
a. determining the budgeted variable cost per output unit.
b. determining the budgeted fixed costs.
c. determining the actual selling price per unit.
d. determining the actual quantity of output units.
Answer: c. determining the actual selling price per unit.
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Monetary-unit sampling is said to eliminate the need to stratify the sample because:
A. the risk of incorrect acceptance is inversely related to sample size. B. the upper limit on misstatements can be computed based on statistical principles. C. tolerable misstatement is considered when determining sample size. D. sample items are selected in proportion to their dollar amount.
The statement of cash flows has which of the following economic activity categories?
A) Financing, investing, and operating B) Cash, credit, and noncash C) Financing, credit, and operating D) Financing, management, and operating
Which of the following are not characteristics of the cheating culture?
a. Everyone does it b. Winner takes all c. Acting responsibly and ethically d. The hidden hand
Punctuate the sentence correctly. They just called and told me You won first prize