Explain Conditional Formatting

question 74

Essay

Explain conditional formatting.

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Definitions:

Budgetary Slack

Excess resources set within a budget to provide for uncertain events.

Operational Plans

Detailed plans that outline how a strategy will be implemented in terms of day-to-day operations.

Flexible Budget

A budget that shows the expected results of a responsibility center for several activity levels.

Static Budgets

Financial plans that remain unchanged over the budget period, irrespective of any variations in activity levels.