39. The process of evaluating financial data that change under alternative courses of action is called A) double entry analysis. B) contribution margin analysis. C) incremental analysis. D) cost-benefit analysis. 40. When budgeted and actual results are not the A) error. B) variance. C) anomaly. D) by-product. 41. The equation which reflects a CVP income statement is A) Sales Cost of goods sold+Operating expenses +Net income. B) Sales+ Fixed costs-Variable costs + Net income. C) Sales- Variable costs+Fixed costs- Net income. D) Sales-Variable costs - Fixed costs Net income. 42. What is budgetary control? A) B) C) D) Another name for a flexible budget The degree to which the CFO controls the budget The use of budgets in controlling operations The process of providing information on budget differences to lower level managers 43. An opportunity cost A) B) C) should be initially recorded as an asset. is the cost of a new product proposal. is the potential benefit that may be obtained by following an alternative course of action. is classified as manufacturing overhead. D) 44. The financial budgets include the A) B) C) D) cash budget and the selling and administrative expense budget. cash budget and the budgeted balance sheet. budgeted balance sheet and the budgeted income statement. cash budget and the production budget