Which of the Following Is True of a Performance Report

question 67

Multiple Choice

Which of the following is true of a performance report?

• A) In preparing a performance report, static budgets are usually a good choice for benchmarks.
• B) It compares actual costs with budgeted costs from the master budget.
• C) It is prepared only if the top management has only superficial participation in the budgeting process.
• D) To create a meaningful performance report, a static budget should be used.
• E) To create a meaningful performance report, actual costs and expected costs should be compared at different levels of activity.

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Definitions:

Market Value

The estimated worth of a product, service, or company within the marketplace, determined by factors like supply, demand, and competition.

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Strategies, methods, and processes implemented by the Human Resources department to manage and develop the workforce efficiently.

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Milton Friedman

An influential American economist known for his strong belief in free-market capitalism and minimal government intervention in the economy.