QUESTION 8 A cost that will not be affected by later decisions is termed an opportunity cost. O True False QUESTION 14 A manager in a cost center also has responsibility and authority over the revenues and the costs. True False QUESTION 15 A process whereby the effect of fluctuations in the level of activity is built into the budgeting system is referred to as flexible budgeting. True False QUESTION 20 After the sales budget is prepared, the capital expenditures budget is normally prepared next. True False QUESTION 34 Consulting the persons affected by a budget when it is prepared can provide an effective means of motivation and cooperation. True False QUESTION 36 Controllable expenses are those that can be influenced by the decisions of the profit center management. True False QUESTION 41 Eliminating a product or segment may have the long-term effect of reducing fixed costs. True False QUESTION 68 The cash budget is affected by the sales budget, the various budgets for manufacturing costs and operating expenses, and the capital expenditures budget. True False