Assume That the Expectations on the Static Budget Were Met

question 142

Multiple Choice

Assume that the expectations on the static budget were met. What can be concluded?

• A) The manager is very efficient.
• B) The static budget was ill conceived.
• C) There is no need for a flexible budget.
• D) The effectiveness of the manager is not in question.

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Definitions:

Firm's Demand

The total quantity of goods or services that a company anticipates selling at a certain price level within a specific time frame.

Land

The surface of the earth not covered by water, recognized as a factor of production in economics, including natural resources and space for activities.

Source of Profit

The origin from which a business or economic activity generates earnings, often through the production of goods, provision of services, or investment activities.

Innovation

An idea that eventually takes the form of new, applied technology or a new production process.