QUESTION 2 A budget is best described as: A formal statement of a company's future plans usually expressed in monetary terms. A master control device. An informal statement of company's future plans usually expressed in monetary terms. The most crucial component of a company's evaluation process. The minimum acceptable performance level. QUESTION 3 A characteristic of preferred stock is that is carries: Voting rights Pre-emptive rights Warrant rights Preferential dividend rights Preferential redemption rights QUESTION 4 A company has foxed costs of $320,000 and a contribution margin per unit of $15. If the company wants to earn a target 40.000 pretax income, how many units must be sold rounded to the nearest whole unit? 24,000 21,333 18,666 2,667 20,000