Indicate Whether Each of the Following Statements Is True or False

question 76

Short Answer

Indicate whether each of the following statements is true or false.
A flexible budget can be viewed as an extension of a company's master budget.______
The master budget is a static budget because it is prepared for a single level of volume.______
Standards are established for a company's costs but not for the selling prices of its goods and services.______
If rent is budgeted at $34,000 for 10,000 units,rent would also be budgeted at $34,000 for 11,000 units.______
Flexible and static budgets use the same per-unit standard amounts for sales and variable costs.______

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Definitions:

Wilhelm Wundt

Regarded as the father of experimental psychology, he established the first psychology laboratory in Leipzig, Germany.

Watson

Refers to John B. Watson, an American psychologist who is considered one of the founders of behaviorism, emphasizing the importance of observable behaviors over internal phenomena like thoughts and feelings.

Humanistic Psychology

Historically significant perspective that emphasized the growth potential of healthy people and the individual’s potential for personal growth.

Carl Rogers

An influential American psychologist who founded the humanistic approach to psychology, emphasizing the importance of free will, self-actualization, and empathy in personal development.