Accounting Exam 5

Which of the following will always be a relevant cost

Costs that will differ between alternatives and influence the outcome of a decision are

A revenue that differs between alternatives and makes a difference in decision making is called an

Incremental analysis is synonymous with

An opportunity cost

The decision rule on whether to sell or process further

The most common budget period is

Which of the following is a benefit of budgeting

Which of the following is not relevant information in a decision whether old equipment presently being used should be replaced by new equipment

A cost that cannot be changed by any present or further decision is a

In a make or buy decision, opportunity costs are

The focus of a sell or process further decision is

Long range planning

Which of the following statements is incorrect

In direct materials budget, the quantity of direct materials to be purchased is computed by adding direct materials required for production to

The cash budget reflects

Which of the following expenses would not appear on a selling and administrative expense budget

What is budgetary control

Budget reports should be prepared

A static budget

A static budget is appropriate in evaluating a managers performance if

What is the difference between a static and flexible budget

Under management by exception which differences between planned and actual results should be investigated

A responsibility report should

Which of the following is not a true statement

A cost center

A profit center is

A distinguishing characteristic of an investment center is that