Which of the Following Statements Is Not True

question 43

Multiple Choice

Which of the following statements is not true?

• A) GST estimates need to be included in a cash budget.
• B) A service business does not need to prepare a cash budget.
• C) Preparing operating budgets for service businesses is normally simpler than preparing them for retailers or manufacturers.
• D) The emphasis in budgeting for not-for-profit organisations tends to be on cash flows and the final cash position rather than on profits, income and expenditure.

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Definitions:

Tangency

The point at which two curves meet without intersecting, often used in economics to denote the point of optimal allocation of resources.

Output

The total amount of goods or services produced by a firm or economy over a specific period.

Isoquant

A curve in economic theory that represents all the combinations of inputs which produce the same level of output.

Isoquant

A curve that represents all the combinations of inputs that result in the production of a certain level of output.