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Which of the Following Is Characteristic of a Performance Report? A

Question 7
Multiple Choice

Which of the following is characteristic of a performance report? A) It uses static budgets. B) It compares actual costs with budgeted costs. C) It usually uses flexible budgets. D) It does not include variances.

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Q 8
Which budget allows the determination of expected costs for various levels of activity? A) operational budget B) capital budget C) static budget D) flexible budget
Q 9
Which of the following is characteristic of an after-the-fact flexible budget? A) It is a budget for the actual level of activity. B) It allows managers to deal with uncertainty. C) It can be used to generate results for a number of plausible scenarios. D) It is a useful planning tool.
Q 10
Which of the following is characteristic of a before-the-fact flexible budget? A) It calculates expected costs for various levels of activity. B) It is used for performance reports. C) It calculates what costs should have been for the actual level of activity. D) It is used to compare expected costs with actual costs.
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