TRUE/FALSE QUESTIONS

1. Product Under costing happens when less resources are consumed, and high costs are reported

2. In the Budgeting exercise, the first forecast that is needed is the Sales Forecast

3. Payback period method is a Discounted method of Capital Appraisal.

4. Once a company exceeds its breakeven level, Net Operating income can be calculated by multiplying the sales price by unit sales in excess of breakeven units.