17. Any analysis of the current ratio must recognize which of the following factors: a. Type of Business. b. Composition of Current Assets. C. Turnover Rate of Current Asset Components. d. A&B e. B&C f. All of the above 18. The potential negative outcomes of budgeting do not include which of the following: a. Employees may understate sales and overstate expenses to allow cushion. b. Pressure to meet results may lead to unethical behavior or fraud. c. Actual and budgeted differences are carefully analyzed. d. Employees may purchase unnecessary items to ensure budget is not reduced next period. e. All of the above. f. None of the above. 19. The information for analysis comes from which of following documents? a. Income Statement b. Balance Sheet C. Statement of Stockholders' Equity d. Statement of Cash Flows e. Notes to the Financial Statements f. All of the above 8. None of the above 20. We use three steps to complete the production budget. Which of the following is not one of these steps? a. Compute budgeted ending inventory, based on the company's inventory policy b. Add budgeted sales, from the sales budget. c. Subtract beginning inventory d. Determine the inventory method (FIFO, LIFO, WA & SI). e. All of the above 1. None of the above