Question: Pro-forma means budgeted. True False Manufacturing overhead costs for the budget would include factory utility costs, but not sales supervisors salaries. True False An income

Pro-forma means budgeted. True False 

Manufacturing overhead costs for the budget would include factory utility costs, but not sales supervisor’s salaries. True False 

An income statement prepared under absorption costing is the method required for external reporting when adhering to IFRS. True False 

The denominator level, is a level of activity that is derived in the static budget. True False

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