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D Question 4 3 pts Which of the following statements regarding a Flexbile Budget is FALSE? It is prefered when operating conditions change frequently A drawback is that it can not be used for operating budgets in the master budget They can be prepared for different levels of activity. They can be used to evaluate management performance. Question 5 3 pts Which of the followng statements regarding a Flexible Budget report is FALSE? They are used to evaluate managers performance in production and cost control. Both the budget and actual costs are based on the same activity level. The department manager is responsible for the difference between the budgeted and actual costs. Because fixed costs do not change within a relevant range, they are usually not shown on a Flexible Budget Report. D Question 6 3 pts Which of the following statements regarding Responsibility Accounting is FALSE? Managers are only evaluated on matters that they can directly control It focuses on controllable costs. Reports can be prepared monthly, quarterly and/or annually. It only applies to upper level management D Question 7 3 pts Which of the following statements regarding a Responsibility Reporting System is FALSE? It permits management by exception at each level of responsbility It allows comparative evaluations It is a top to bottom process Od Each higher level of responsbility can see detailed reports for each lower level of responsibility, Question 8 3 pts Which of the following statements regarding Responsibility Centers is FALSE? When preparing a Responsibility Report for a cost center, no distinction is made between variable and fixed costs. or Noncontrollable costs are not included in a Responsibility Report for a cost center Indirect fixed costs are usually not controllable in a profit center. Profit center managers do not need information about controllable revenues, just controllable costs

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