Which of the Following Statements Is False Regarding the Budgeted

question 106

Multiple Choice

Which of the following statements is false regarding the budgeted schedule of cost of goods manufactured and sold?

• A) This budget schedule first summarizes the various costs of production from other budget schedules to compute the period's total manufacturing costs.
• B) This budget adjusts for the beginning and ending cost of work-in-process inventory to compute the cost of goods manufactured.
• C) This budget computes cost of goods sold by adjusting cost of goods manufactured by the beginning and ending balances in finished goods inventory.
• D) This budget uses a format that is prepared by companies for external reporting purposes.
• E) This budget shows produc?tion costs that are expected to flow through the inventory accounts.

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Definitions:

Passive Voice

A grammatical construction where the object of an action becomes the subject of the sentence, often deemphasizing the action's performer.

Old Clientele

Refers to the established base of customers or clients who have been using a company's products or services for a long time.

New Media

Digitally-based communication platforms and technologies, such as social media, websites, and streaming services, that enable interactive user engagement.

Active Voice

A sentence structure where the subject performs the action stated by the verb, emphasizing the action and the doer.