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What are some challenges in establishing an internal control system in a small business?
Fixed Costs
Costs that do not change with the level of production or sales, such as rent or salaries.
Flexible Budget
A budget that adjusts or varies with changes in volume or activity levels.
Level Of Activity
Refers to the volume of production or operations within a business, which can impact costs and efficiency.
Fixed Costs
Expenses that do not change with the level of production or sales over a short period.
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