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What are Jensen's, Rushton's and Herrnstein and Murray's controversial views on race and IQ?
Budget
An accounting device used to plan and control resources of operational departments and divisions.
Static Budget
A fixed budget that does not change or adjust to variations in business activity levels throughout the budget period.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity, useful for managerial control and performance evaluation as it reflects real-time operations rather than fixed forecasts.
Master Budget
An all-encompassing financial planning document that consolidates all of an organization's budgets for sales, production, overhead, and cash flow.
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