When People Must Respond to a Question from a Fixed

question 84

Multiple Choice

When people must respond to a question from a fixed list of possible answers to a question, this

• A) makes the findings more valid.
• B) increases reliability.
• C) is an open-ended question.
• D) is a closed-ended question.

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Definitions:

Production Budget

A plan that outlines the number of units that need to be produced to meet sales demands and inventory requirements.

Master Budget

An integrated set of operating and financial budgets for a period of time.

Flexible Budgeting

A budgeting process that allows for adjustments based on changes in the volume of activity or other factors.

Flexible Budgeting

A financial planning tool that adjusts budgets based on changes in actual activity levels, allowing for variable cost adjustment.