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A major element in budgetary control is<br />
the valuation of inventories.<br />
the preparation of long-term plans.<br />
approval of the budget by the stockholders.<br />
the comparison of actual results with planned objectives.<br />
Multiple Choice Question 43<br />
The purpose of the sales budget report is to<br />
control sales commissions.<br />
control selling expenses.<br />
determine whether income objectives are being met.<br />
determine whether sales goals are being met.<br />
Multiple Choice Question 89<br />
The accumulation of accounting data on the basis of the individual manager who has the<br />
authority to make day-to-day decisions about activities in an area is called<br />
flexible accounting.<br />
static reporting.<br />
responsibility accounting.<br />
master budgeting.<br />
Multiple Choice Question 142<br />
Variance reports are
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