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The condition that exists when managers deliberately underestimate revenues or overestimate costs to provide flexibility is called:
Select one:
a. Realistic standards
b. Monetary incentives
c. Budgetary slack
d. Management by exception
Patron Corporation had sales of $350,000, income of $10,000, and an asset base of $100,000. The turnover is
Select one:
a. 0.035.
b. 0.35.
c. 3.00.
d. 3.50.
The standard cost sheet includes all of the following EXCEPT
Select one:
a. the standard cost per unit.
b. the standard quantity allowed for actual production.
c. the standard price.
d. the standard quantity per unit.
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