6. The minimum quantity of products that must be sold in a given period to ensure that all fixed costs are recovered and that the enterprise does not sustain a loss is known as the: (a) break-even quantity. (b) profit. (c) margin of safety. (d) variable income. 7. Costs that have already been incurred and cannot be changed or cancelled by any decision now or in the future are: (a) relevant costs. (b) sunk costs. (c) opportunity costs. (d) managerial costs. 8. Inventory and cash resources are part of: (a) daily expenses. (b) fixed capital. (c) working capital. (d) non-current assets. 9. Budgets can briefly be described as: (a) the managers desired outcome. (b) a historical document. (c) what was achieved in the past. (d) a plan of action for achieving a stated goal. 10. A flexible budget is a budget calculating: (a) expected revenue based on an estimated output. (b) using a conservative approach to the level of output. one that can be changed when over-expenditure occurs. (d) budgeted revenue and costs based on the actual level of output achieved. (c) [10]