Differences Between Budgeted and Actual Amounts Are Referred to as Flexible

question 105

True/False

Differences between budgeted and actual amounts are referred to as flexible budgets.

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Definitions:

Service Gap

Results when a service fails to meet the expectations that customers have about how it should be delivered.

Knowledge Gap

The difference in understanding or information between individuals or groups, especially in relation to access or comprehension of specific subject matter.

Tangibles

Physical items or goods that can be seen, touched, and measured, as opposed to services or digital products.

Responsiveness

The ability of a company, service, or product to react quickly and positively to customer needs or changes in the market.