QUESTION 1 Which of the following best describes the use of Budgeting OA. It is mainly used as an organizing device B. It is primarily used as a planning tool C. It is used as both a planning and controlling tool D. It is primarily used as a controlling tool QUESTION 2 Which is the most commonly used type of budget; it includes sales, payment for services rendered, endowments, and grant and special funds. OA. The Revenue and Expense Budget OB. The Production Budget OC. The Fixed Budget D. The Personnel and Labor Budget QUESTION 3 Which type of budget assumes stable conditions; it is prepared on the basis of the best information available, such as past experience and forecasting (estimates and projections). OA. The Fixed Budget B. The Variable Budget OC. The Rolling Budget OD. The Static Budget