Which of the following statements about budgets is false? a. Budgets may be expressed in dollars, quantities,

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Which of the following statements about budgets is false?
a. Budgets may be expressed in dollars, quantities, or both.
b. Budgets may reflect projected revenues, projected expenses, projected cash flows, or projected quantities of inputs or outputs.
c. Budgets must be prepared in accordance with GAAP.
d. Budgets are useful both for planning and control.

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Managerial Accounting

ISBN: 12

3rd Edition

Authors: James Jiambalvo

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