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:

World Price

The price at which goods are traded on the global market.

Supply Curves

Graphical representations showing the relationship between the price of a good and the quantity of that good that suppliers are willing to sell.

Demand Curves

A graphical representation that shows the relationship between the price of a good and the quantity demanded by consumers.

World Price

The worldwide market price of a good or service, affected by the balance of global demand and supply.