Question 2 2 pts A cash budget starts with last month's beginning cash balance. True False Question 3 2 pts Buying cheaper quality materials is likely to result in an unfavorable materials efficiency variance. O True False Question 4 2 pts When evaluating a manager, residual income of zero is unacceptable. O True False Question 5 2 pts A flexible budget contains only variable costs. True O False Question 9 2 pts Efficiency variances reflect the actual dollar amount lost or saved as result of differences from budget. True False