Which of the following statement(s) regarding performance evaluation is (ore) incorrect? 1. Whon actual revenues are greater than standard (budgeted) revenues, the revenue vaniances are favorable. II. Differences betwecn the flexible budget and the actuat amounts are called Activity Variances. 114. Use of Return on Investment (ROI) to evaluote managers of an imvestment center may nvoid some of the under-investmeot decision probiems tha can occur with the use of Residual Income (Ri) as a performance measure. Multiple Cnoice I and if Orily ifi 1. II, and III Which of the following statement(s) regarding performance evaluation is (ore) incorrect? 1. Whon actual revenues are greater than standard (budgeted) revenues, the revenue vaniances are favorable. II. Differences betwecn the flexible budget and the actuat amounts are called Activity Variances. 114. Use of Return on Investment (ROI) to evaluote managers of an imvestment center may nvoid some of the under-investmeot decision probiems tha can occur with the use of Residual Income (Ri) as a performance measure. Multiple Cnoice I and if Orily ifi 1. II, and