1. In a budget report, favorable and unfavorable pertain to variances be- tween budget expectations and actual results. T F 2. A flexible budget is one in which the budget figures for fixed expenses will vary with sales volume or some other measure of activity. 3. Preparing a cash budget can help to anticipate cash flow problems and negative cash balances in advance, giv- ing you time to prepare for such events. T F 4. The role of an accountant is to assist managers in making decisions regard- ing marketing, sales, inventory, and other management matters. O F 5. Obligated funds are monies that management has committed to spend, but have not yet become an actual ex- pense. 6. Cash budgets and operating budgets always contain exactly the same items