1. T. F. Budgeting Process contains both motivating and demotivating factors that must be overcome for its benefits to be manifested.
2. T, F. The Revenue or Sales Budget is the first item to be addressed in any budgeting process.
3. T, F. Another name for Master Budget is Static Budget.
4. T, F. Financial planning models are mathematical and nonmathematical representations of the relationships among operating activities, financing activities, and other factors.
5. T, F. A responsibility center is a part, segment, or subunit of an organization whose manager is held responsible and accountable for all its activities.
6. T, F. An investment center manager is accountable for investments, revenues and costs.