Which Is NOT One of the Four Steps Needed to Build

question 75

Multiple Choice

Which is NOT one of the four steps needed to build an activity-based budget?

• A)Determine output level.
• B)Determine the activities and their drivers needed to produce output.
• C)Estimate the demand for each activity to produce the output.
• D)Estimate the committed capacity.

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Definitions:

Asset

A resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

General Ledger

A record of all financial transactions divided into accounts and usually compiled at the end of each month.

Balance Sheet

A financial statement that shows a firm’s assets, liabilities, and owner’s equity.

Income Statement

A financial statement that shows the revenue and expenses of a firm, allowing you to calculate the profit or loss produced in a specific period of time.