A Static Budget Is Appropriate in Evaluating a Manager's Performance

question 165

Multiple Choice

A static budget is appropriate in evaluating a manager's performance if

• A) actual activity closely approximates the master budget activity.
• B) actual activity is less than the master budget activity.
• C) the company prepares reports on an annual basis.
• D) the company is a not-for-profit organization.

Distinguish between the concepts of assimilation and accommodation.

Describe the transition in cognitive abilities from the preoperational stage to the concrete operational stage.

Explain the significance of hypothetical and abstract reasoning in determining a child's cognitive stage.

Appreciate the role of social factors and instruction in cognitive development, as highlighted by Vygotsky's zone of proximal development.

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Definitions:

Target Profit

The desired profit a company aims to achieve for a specific period or for a specific product.

Units Sold

The total number of product units a company sells within a specific period, a critical metric for analyzing sales performance and growth.

Break-even Point

The level of production or sales at which total revenues equal total expenses.

Unit Sales

The quantity of products sold, typically measured on a per-unit basis.