Over the Past Decade Technological Improvements That Have Lowered the Cost

question 202

Multiple Choice

Over the past decade technological improvements that have lowered the cost of producing an automobile have increased

• A) the supply but not the demand for automobiles.
• B) neither the supply nor the demand for automobiles.
• C) both the supply and the demand for automobiles.
• D) the demand but not the supply of automobiles.

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Definitions:

Master Budget

An inclusive financial planning document that consolidates all individual budgets related to sales, cost of goods sold, operating expenses, assets, liabilities, and cash flows.

Product

Anything that can be offered to a market to satisfy the want or need of a customer.

Cash Budget

A financial plan that forecasts the cash inflows and outflows over a specific period, typically used to assess liquidity and manage cash effectively.

Budgeted Disbursements

Projected payments planned by a company for various expenses.