Which of the Following Statements Is Incorrect

question 61

Multiple Choice

Which of the following statements is incorrect?

• A) A continuous twelve-month budget results from dropping the month just ended and adding a future month.
• B) The production budget is derived from the direct materials and direct labor budgets.
• C) The cash budget shows anticipated cash flows.
• D) In the budget process for not-for-profit organizations the emphasis is on cash flow rather than on revenue and expenses.

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Definitions:

Club Mosses

Ancient group of non-flowering plants with a vascular system, resembling mosses but genetically closer to ferns.

Lycopodiophyta

A division of vascular plants, also known as clubmosses, that are characterized by their leafy stems and cone-like structures.

Pteridophyta

Pteridophyta refers to a group of vascular plants that reproduce via spores and do not produce flowers or seeds, commonly known as ferns.

Anthocerophyta

A phylum of plants known as hornworts, characterized by a flat thallus and a sporophyte that resembles a long horn.