15. A flexible budget is actually a series of budgets for varying levels of activity. A. True. B. False. 16. Which of the following budgets is used most frequently for administrative functions. A. Zero-based budget. B. Flexible budget. C. Static budget. D. Capital expenditures budget. 17. The operating budget brings together the projection of all profit-making phases of a company A. True. B. False. 18. A method of budgeting which maintains a twelve-month projection into the future is called: A. Annual budgeting. B. Continuous budgeting. C. Dynamic budgeting. D. Both A and B above. 19. Which of the following budgets would not be included in an operating budget? A. Sales budget. B. Factory overhead cost budget. C. Selling/Administrative expenses budget. D. Capital expenditures budget. 20. Computers are seldom used in the budget process, although computers can reduce the cost of budget preparation. A. True. B. False. 21. Standard costs serve as a device for measuring: A. Nonfinancial performance. B. Volume. C. Effectiveness. D. Efficiency 15. A flexible budget is actually a series of budgets for varying levels of activity. A. True. B. False. 16. Which of the following budgets is used most frequently for administrative functions. A. Zero-based budget. B. Flexible budget. C. Static budget. D. Capital expenditures budget. 17. The operating budget brings together the projection of all profit-making phases of a company A. True. B. False. 18. A method of budgeting which maintains a twelve-month projection into the future is called: A. Annual budgeting. B. Continuous budgeting. C. Dynamic budgeting. D. Both A and B above. 19. Which of the following budgets would not be included in an operating budget? A. Sales budget. B. Factory overhead cost budget. C. Selling/Administrative expenses budget. D. Capital expenditures budget. 20. Computers are seldom used in the budget process, although computers can reduce the cost of budget preparation. A. True. B. False. 21. Standard costs serve as a device for measuring: A. Nonfinancial performance. B. Volume. C. Effectiveness. D. Efficiency