Which of the Following Is Based on Forecasts of Specific

question 73

Multiple Choice

Which of the following is based on forecasts of specific volumes of products or services?

• A) Variance analysis
• B) Flexible budgets
• C) Static budgets
• D) Financial statements

---

Definitions:

Fair Market Value

An estimate of the market value of an asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the market.

Assets

Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Computer Software

Computer software is a collection of data or computer instructions that tell the computer how to work, covering everything from operating systems to application programs.