Talk About:  Loose Construction​

question 23

Short Answer

Talk about:  loose construction​

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Definitions:

Anticipated Costs

Estimated costs expected to be incurred in the future for a project, activity, or operation.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, making it more useful for controlling costs than a static budget.

Worst-Case Scenario

The most adverse or unfavorable outcome that may happen in a given situation.

Flexible Budget Performance Report

A report comparing actual costs and revenues with budgeted figures adjusted for actual levels of activity, to evaluate performance.