Which of the Following Statements Is(are) True

question 51

Multiple Choice

Which of the following statements is(are) true?
(A) A favorable variance is not necessarily good, and an unfavorable variance is not necessarily bad.
(B) The master budget includes operating budgets (e.g., production budget) and financial budgets (e.g., cash budget) .

• A) Only A is true.
• B) Only B is true.
• C) Both of these are true.
• D) Neither of these is true.

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Definitions:

Writing Requirements

Legal stipulations that certain agreements, contracts, or transactions must be documented in writing to be legally enforceable.

E-commerce

The exchange of goods and services or the transfer of money or information, mainly through the internet or other electronic networks.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the party to be charged with the contract, in order to be enforceable.

Oral Contracts

Agreements made verbally rather than in written form, which can be legally binding under certain conditions.