Which statement is not true regarding a standard cost system? Select one: O A. Standards help management monitor costs. O B. If variances occur, then something undesirable has occurred in the operations. O C. Variances from the standards are analyzed to improve operations. O D. Both actual and standard costs are used in the system. The sales forecast directly affects many elements of the master budget. Which of the following would be least affected by fluctuations in the sales forecasts? Select one: O A. The production schedule. O B. The budgeted income statement O C. The operating expense budget. D. The cash budget. o E. All of the above would be reasonably affected by the sales forecast. Budgeting can: Select one: O A. Enhance performance evaluation system. O B. Deteriorate coordination of activities. O C. Minimize management responsibilities. D. Improve relationship with shareholders. Consider the following statements about companies that are involved with international operations: 1. Budgeting for these firms is often very involved because of fluctuating values in foreign currencies. II. Multinational firms may encounter hyperinflationary economies. III. Such organizations often face changing laws and political climates that affect business activity. Which of the above statements is (are) true? Select one: A. I only. B. Ill only. o C. I and II. D. II and III. E. I, II, and III. The production budget in units: Select one: O A. Cannot be prepared until the budgeted income statement is completed. B. Is dependent upon the sales forecast for the period. O C. Affects the manufacturing cost budget. D. More than one of the above are true. O E. None of the above is true