The cost of goods sold expense can be determined either by directly computing the variable cost of producing a unit times the number of units sold or by using an industry standard percentage of sales. 

Selling expense is an expense that can be expected to remain stable over time.. 

To satisfy outside investors, the financial plan will need three years of projected financial data. 

Cost benefit analysis considers the cash flows or the value of money over a period of time. 

In an Internet start-up, advertising costs will be extensive to create awareness of the website. 

The first step in preparing a pro forma income statement is to separate fixed and variable costs. 

Fixed expenses are incurred regardless of sales volume. 

Capital budgets project expenditures on new equipment, vehicles, computers, or new facilities. 

An entrepreneur focuses on the operating costs before completion of the sales budget.

In a cost benefit analysis of a capital expenditure the total costs associated with the expenditure is ________ the total benefits of the expenditure.

The sales budget: 

Which of the following statements is not true of a cost benefit analysis?

Fixed expenses: 

Which of the following would be considered a variable expense? 

The ________ budget is used to evaluate expenditures that will impact the business for more than one year. 

Capital budgets project expenditures on: 

________ is(are) the major source of revenue.

________ is projected net profit calculated from projected revenue minus projected costs and expenses.