Which of the Following Statements Is(are)true

question 76

Multiple Choice

Which of the following statements is(are) true?
(A) A favorable variance is not necessarily good,and an unfavorable variance is not necessarily bad.
(B) The master budget includes operating budgets (e.g. ,production budget) and financial budgets (e.g. ,cash budget) .

• A) Only A is true.
• B) Only B is true.
• C) Both A and B are true.
• D) Neither A nor B is true.

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Definitions:

Primary Measurement

The initial quantification of financial transactions in terms of money, serving as the basis for further financial analysis and reporting.

Exit Price

The amount that would be received from selling an asset or transferred liability in an orderly transaction between market participants.

Entry Price

The price at which a security or asset was bought, affecting the calculation of gains and losses for accounting or tax purposes.

Principal Market

The market with the greatest volume and level of activity for the asset.