Budgets Assist Managers Which of the Following Aspects of Management

question 162

Multiple Choice

Budgets assist managers which of the following aspects of management?

• A)Planning
• B)Controlling
• C)Evaluating
• D)All of these ans choices are correct.

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Definitions:

Output

The total amount of something produced by a person, machine, or industry.

Average Variable Cost

The total variable costs (costs that change with production levels) divided by the quantity of output produced.

Output

The total quantity of goods or services produced within a specific period by a firm or industry.

Diminishing Marginal Returns

A principle stating that as additional units of a variable input are added to a fixed input, the additional output from each new unit of input will eventually decrease.