Reference no: EM132933484

Problem 1: Which of the following statements regarding graphs of fixed and variable costs is true?

A. Variable costs can be represented by a straight line where costs are the same for each data point.

B. Fixed costs can be represented by a straight line starting at the origin and continuing through each data point.

C. Fixed costs are zero when production is equal to zero.

D. Variable costs are zero when production is equal to zero.

e. Fixed and Variable costs are curvilinear form above zero on the "Y" axis.

Problem 2: All of the following statements regarding budgeting is true except

A. Budgeting helps managers determine the resources needed to meet their goals and objectives.

B. Budgeting is a key ingredient in good decision-making.

C. Budgeting is a bookkeeping task

D. The focus of budgeting is planning.

E. Budgeting is an executive responsibilities