Examlex
When a closed-ended manometer is used for pressure measurements, and the closed end is under vacuum, the level of manometer liquid in the closed arm can never be lower than that in the other arm.
Static Budget
A fixed budget that does not change or adapt based on any variations in a company's activity levels or performance.
Flexible Budget
A budget that adjusts or varies with changes in volume, activity, or other relevant factors.
Responsibility Accounting
A system of accounting that involves assigning revenues and costs to the managers responsible for their incurrence, promoting accountability.
Average Month
A concept used to calculate the average results or performance over several months, smoothing out fluctuations.
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