Which of the Following Is Not a Component of the Master

question 119

Multiple Choice

Which of the following is not a component of the master budget?

• A)Selling and administrative expenses budget
• B)Ending inventory and cost of goods sold budget
• C)Capital expenditures budget
• D)Sales budget

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Definitions:

Factor Prices

The costs associated with the inputs used in production, such as labor wages and capital rental rates.

Production Function

An economic model that describes how inputs are transformed into outputs by a firm.

Units Of Output

A measurement of productivity that represents the total quantity of goods or services produced by a firm or economy.

Labor

The human effort, including both mental and physical activities, employed in the production of goods and services.