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What is meant by automatic progression?
Supplies
Materials and items used in the daily operations of a business that do not directly become part of the final product.
Flexible Budget
A budget that modifies based on fluctuations in activity levels or volume.
Output
The quantity of goods or services produced in a given time period by a company, individual, or machine.
Budgeting
The process of creating a plan to spend your money, outlining anticipated income and expenses for a future period.
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