A Flexible Budget Can Be Prepared for Which of the Following

question 146

Multiple Choice

A flexible budget can be prepared for which of the following budgets comprising the master budget?

• A) Sales
• B) Overhead
• C) Direct materials
• D) All of these

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Definitions:

Clearly Specified

means stated or described in a manner that leaves no ambiguity regarding the details or requirements.

Past Consideration

Anything given or promised to be given in the past, which cannot be considered valuable in the context of forming a current contract.

Law of Consideration

A principle in contract law that requires an exchange of something of value between the contracting parties.

Specific

Clearly defined or identified; particular and distinct.