66. Cash receipts from interest and dividends are classified as A) operating activities. B) investing activities. C) either financing or investing activities. D) financing activities. 67. Ideal standards A) reflect optimal performance under perfect operating conditions. B) are rigorous but attainable. are the standards generally used in a master budget. C) will always motivate employees to achieve the maximum output. D) 68. The master budget for a service enterprise A) may include a sales budget for sales revenue. B) includes a service revenue budget based on expected client billings. C) will not include a budgeted income statement. D) will have the same types of budgets as a merchandiser. 69. Which of the following statements is incorrect? A) In the budget process for not-for-profit organizations, the emphasis is on cash flow rather than on revenue and expenses. B) The cash budget shows anticipated cash flows. C) The production budget is derived from the direct materials and direct labor budgets. D) A continuous twelve-month budget results from dropping the month just ended and adding a future month. 70. In preparing a statement of cash flows, a conversion of bonds into common stock will be reported in A) the "extraordinary" section. B) a separate schedule or note to the financial statements. C) the financing section. D) the stockholders' equity section. 71. The direct materials quantity standard would not be expressed in A) barrels. B) board feet. C) dollars. D) pounds