The type of budget that remains the same without respect to any operational or financial changes is called a:

balanced budget

cost budget

flexible budget

static budget

A past committed cost that is now irrevocable and irrelevant for future decision making is called:

a sunk cost

an opportunity cost

a joint cost

a product cost

Money that would no longer be able to be earned if a certain course of action is decided upon would be called a(n):

sunk cost

differential cost

opportunity cost

joint cost

Managerial accounting produces information:

to meet internal users' needs

to meet a user's specific needs

often focusing on the future

all of these

Which of the following costs increases when production increases?

fixed costs

indirect costs

sunk costs

variable costs

Kaizen budgeting does all of the following except:

analyze activities to identify potential improvements.

analyze variances between budgeted costs and actual costs.

incorporate continuous improvements into the budget.

target reductions in costs.