1. Another name for the static budget is...

select one:

a. master budget

b. overhead budget

c. permanent budget

d. flexible budget

2. Costs incurrd indirectly and allocated to a responsiblity level are consideted to be...

select one:

a. nonmaterial

b. mixed

c. controllable

d. noncontrollable

3. It is possible that a company's financial statements may report inventories at...

select one:

a. budgeted costs

b. standard costs

c. both budgeted and standard costs

d. none of these

4. Under management by exception, which differences between planned and actual results should be investigated?

select one:

a. material and noncontrollable

b. controllable and noncontrollable

c. material and controllable

d. all differences should be investigated