Indicate Whether Each of the Following Statements Is True or False

question 149

Short Answer

Indicate whether each of the following statements is true or false.
_____ a) The amount of a sales volume variance is the difference between the static budget and a flexible budget based on actual volume.
_____ b) The sales volume variance measures managers' effectiveness in achieving the planned sales price for the company's products.
_____ c) Production managers are usually held responsible for the sales volume variance.
_____ d) If the planned sales volume was 25,000 units and the actual sales volume was 24,500 units, the sales volume variance was favorable.
_____ e) For marketing managers, "making the numbers" refers to reaching the budgeted sales volume.

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Definitions:

Statute of Frauds

A legal concept requiring certain types of contracts to be in writing and signed by the party being charged, to prevent fraud and perjuries in the court system.

Statute of Limitations

Law that sets the maximum period which one can wait before filing a lawsuit, depending on the type of case or claim.

Unenforceable

Referring to a contract or clause that cannot be executed or enforced by law.

Dispersed Collective Behaviours

Group behaviors that are spread out across vast distances, often mediated through technology, lacking a centralized physical location.