Which of the following statements is not part of the budgeting process?
a. Budgets may be developed for short periods such as a month or long periods such as a year.
b. Usually budgeting procedures begin at the department level and move downward.
c. The ultimate result in the budgeting process is to create a master budget.
d. A budget committee reviews and revises various estimates of income and expenses submitted by other employees.
B
You might also like to view...
The chi-square test is performed by:
A) comparing a metric variable with a categorical variable B) comparing one frequency table with one cross-tabulation table C) comparing the difference among categories of more than three variables D) comparing observed frequencies with expected frequencies E) comparing the pie chart with the stacked bar chart
If the standard deviation of the population is not known, ______ as a measure of dispersion.
A. we can take an educated guess B. we can use the range value (the difference between the maximum and minimum values) C. we can use the variance D. we can use the mean plus or minus three standard deviations
On December 31 . 2014, Ohio Corporation appropriately changed its inventory valuation method to FIFO cost from LIFO cost for both financial statement and income tax purposes. The change will result in a $140,000 increase in the beginning inventory at January 1 . 2014 . Assume a 30 percent income tax rate. The cumulative effect of this accounting change Ohio for the year ended December 31 . 2014,
is a. $0. b. $42,000. c. $98,000. d. $140,000.
An industrial boiler has a mean time between failures of 344 hours and mean time to repair of 8 hours. In this case, the availability is ______.
a. 97.7% b. 93.6% c. 87.3% d. 98.1%