When Setting a Flexible Budget It Is Important to Know

question 102

Multiple Choice

When setting a flexible budget it is important to know

• A)the expected profit that a firm requires.
• B)the expected return that the shareholders or owners require.
• C)the relevant ranges of activity and cost.
• D)the impact of inflation on the budget in the year to come.

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Definitions:

Sight

The sense that allows for the perception of visual stimuli, mediated by the eyes and processed by the brain.

Centration

The cognitive tendency in early childhood to focus on one aspect of a situation while neglecting others.

Modelling Clay

A pliable material used in art and education to create three-dimensional objects and forms through shaping and molding.

Conservation

In cognitive development, the understanding that certain properties of objects or substances do not change when their appearance is altered.