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Master Budget Activity
The comprehensive aggregation of all individual budgets and plans into one complete financial budget, covering all aspects of the organization's operations.
Not-for-profit Organization
An organization that operates for purposes other than generating profit, where surplus revenues are reinvested to further its mission.
Static Budget
A fixed budget that does not change or adapt to variations in business activity levels throughout the fiscal year.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity levels, enabling more accurate budgeting in variable cost categories.
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