Corrective Actions Are Almost Always ________ Except When External and Internal

question 23

Multiple Choice

Corrective actions are almost always ________ except when external and internal factors have not significantly changed and the firm is progressing satisfactorily toward achieving stated objectives.

• A) unnecessary
• B) needed
• C) undesirable
• D) prohibitively expensive
• E) futile

Identify and calculate various expenses and income in both planning and flexible budgets.

Recognize the differences between planning and flexible budgets.

Determine the impact of activity levels on total fixed, variable, and total costs.

Analyze the budgeting process for different time frames and operational aspects.

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Definitions:

Stimulus Motives

Internal drives that prompt an organism to seek stimulation or respond to changes in the environment.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Drive-Reduction Theory

A theory in psychology that explains motivation as being rooted in the desire to reduce internal tensions caused by unmet biological needs.

Cognitive Developmental Theory

A psychological theory that suggests how children acquire knowledge and understanding of the world around them, often associated with Jean Piaget.