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Which of the following statement(s) is/are true? (Select the correct answer from those listed below the following statements). (1) Financial accounting information is primarily for internal users, and uses any language for its reporting (2) Management accounting information is normally produced in a timely and accurate manner for internal decision-making (3) Management accounting information can be communicated using any language 2 and 3 only 1 and 2 only 1 and 3 only None of the above

Question 3 Which of the following statement(s) is/are true about budgets? (Select the correct answer from the options below the statements) (1)Budgets are usually set for a year at a time, but are often broken down into shorter periods (2) Budgets provide a system of authorization (3) Budgets help to coordinate the various aspects of the business All of the above (1) only (1) and (2) None of the above 4 pts

Which of the following statement(s)is/are true about zero- based budgeting ? (Select the correct answer from the options below the statements) (1) It is costly to implement (2) It encourages every cost element to be justified (3) It encourages a questioning approach All of the above (1) only (1) and (2) None of the above

Which of the following statement(s) is/are not true about incremental budgeting?(Select the correct answer from the options below the statements) (1) Incremental budgeting adjusts / considers changes in the managers' turnover rate (2) Incremental budgeting considers changes in the managers' hierarchy (3) Incremental budgeting considers changes in the cost of capital All of the above (1) only (1) and (2) None of the above

Question 4 Which of the following statement(s) is/are true about the budget slack? (Select the correct answer from those listed below the following statements). (1) Budget slack is the deliberate under-estimation of costs and over estimation of revenue (2) Budget slack is the difference between the budgeted, and the actual units of production (3) Budget slack is the deliberate over-estimation of costs and under -estimation of revenue (4) Budget slack is the deliberate falsification of costs and revenues by managers, which is deemed unethical (3) and (4) are correct (1), (2) and (3)are correct (1) and (3) are correct (1) and (4) are correct 4