Which of the Following Statements Is Not True

question 26

Multiple Choice

Which of the following statements is not true?

• A) Preparing operating budgets for service businesses is normally simpler than preparing them for retailers or manufacturers.
• B) A service business does not need to prepare a cash budget.
• C) GST estimates need to be included in a cash budget.
• 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:

Underestimating

The act of judging something to be of lower quantity, value, or importance than it actually is.

Project

A planned set of interrelated tasks to be executed over a fixed period and within certain costs and other limitations.

Overconfidence

A cognitive bias where an individual's subjective confidence in their judgments and abilities is greater than their objective accuracy.

Algorithms

Step-by-step procedures or formulas for solving a problem or accomplishing a specific task, often used in computing and mathematics.