Question: please give me the correct answers wirh explanations. please answer all will get a thumbs up. QUESTION 12 In general, the budgeted income statement is




QUESTION 12 In general, the budgeted income statement is probably the most carefully scrutinized component of the master budget. True False QUESTION 14 Some companies take a top down approach to budgeting (upper management establishes the budget with little input from others), while other companies take a bottom-up approach (lower level employees are involved in the process) True False QUESTION 15 A flexible budget is a revised master budget based on the actual activity level. True False QUESTION 16 A top-down approach to budgeting motivates employees and leads to greater budget acceptance. True O False QUESTION 17 Organizations use budgets to control operations, because budgets provide a means to evaluate employee and company performance. True False QUESTION 18 An operating budget is used to communicate plans to: O a. Customers. Ob. Employees. Oc. Shareholders. O d. Suppliers. QUESTION 19 Which of the following best describes an operating budget? An estimate of cash expenditures for long-term assets. O. A short-term budget that focuses on the daily operations of the organization. Oc. A series of budget schedules outlining the organization's plans for the next three years. O d. An estimate of all operating costs other than production. QUESTION 20 Companies generally obtain sales forecasts from many different sources. O True O False
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