16.In the income statement reports, once budgets are set up

Select one:

a. actual amounts are always given as a percentage of the budgeted amounts

b. actual amounts are always greater than the budgeted amounts

c. actual amounts are always less than the budgeted amounts

d. budgeted amounts may be omitted from the reports

17.Automatic fixed monthly payments such as auto lease, insurance premiums and mortgage

Select one:

a. should be recorded in the adjustments journal

b. can be recorded in the account reconciliation journal or in the general journal

c. must be recorded with a normal general journal entry

d. should be recorded as cash payments because they involve withdrawals from the bank account