Productivity Is the Ratio of the Inputs Used to the Outputs

question 11

True/False

Productivity is the ratio of the inputs used to the outputs achieved.

---

Definitions:

Budget Committee

A group responsible for coordinating the preparation of the budget, reviewing and approving budget proposals, and monitoring financial performance.

Master Budget

A master budget is a comprehensive financial planning document that combines all of an organization's individual budgets and plans into a single, unified plan.

High-Low Method

A mathematical method that uses the total costs incurred at the high and low levels of activity to classify mixed costs into fixed and variable components.

Mixed Cost

A cost composed of a fixed and a variable component and changes in total with the level of activity, but not proportionally.