$($True or False$)$:

$1.$The break$-$even point is the level of sales at which revenue equals expenses and net income is zero.

$2.$ The strategic plan leads to long $-$range planning, which produces forecasted financial statements for five $-$to$-$twenty $-$ year periods.

$3.$ Step cost a cost that changes abruptly at different intervals of activity because the resources and their costs come to individual chunks.

$4.$ An activity$-$based flexible budget is based on budgeted costs for differenactivity and related cost driver.

$5.$ The most forward$-$looking budget is the strategic plan, which sets the overall goals and objectives of the organization.

Answer the Questions:

$1.$ What is Cost $-$Volume$-$Profit $($CVP$)$ Analysis?

$2.$ What are the Benefits of Budgets?

$3.$What are the dysfunctional Incentives

$4.$What is a capital budgeting decision?

$5.$ What is Internal Rate of Return?