9. Which of the following is an advantage of budgeting? A. Budgeting can facilitate an entitys cash flow planning. B. Budgeting guarantees that an entity will have sufficient operating cash flow. C. Both of the above are advantages of budgeting. D. Neither of the above is an advantage of budgeting

10. Which of the following is true regarding variances? A. Variances are favorable if they result in a relative decrease in profitability. B. Variances are unfavorable if they result in a relative increase in profitability. C. Both of the aforementioned statements are true. D. Neither of the aforementioned statements is true