Examlex
________ is an iterative systems development approach developed by IBM and includes a number of tools and techniques that are typically tailored to fit the needs of a specific organization.
Flexible Budget
A flexible budget adjusts expenses based on changes in actual revenue or other activities, allowing for more accurate budgeting and variance analysis.
Variable Costs
Expenses that vary in direct proportion to changes in activity levels or volumes, such as raw materials and direct labor costs.
Fixed Costs
Costs that remain constant in total regardless of changes in the activity level within a relevant range.
Fixed Costs
Costs that do not vary with the level of output or sales in the short term, such as lease payments, insurance, and salaries of permanent staff.
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