Which of the Following Statements Is(are) True

Multiple Choice

Which of the following statements is(are) true?
(A) A favorable variance is not necessarily good, and an unfavorable variance is not necessarily bad.
(B) The master budget includes operating budgets (e.g., production budget) and financial budgets (e.g., cash budget) .

A) Only A is true.
B) Only B is true.
C) Both of these are true.
D) Neither of these is true.