What Is the Definition of a Flexible-Based Budgeting System

question 134

Multiple Choice

What is the definition of a flexible-based budgeting system?

• A)It uses functional-based line items.
• B)It splits costs into variable and fixed components.
• C)It provides costs for a variety of activity levels.
• D)It develops budgets around a single expected level of activity.

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Definitions:

Vacation Time

Vacation time is the period an employee is allowed to be away from work for rest or leisure, which is typically compensated and agreed upon by the employer.

Voting Leave

Employment leave provided to employees to cast their vote in public elections without losing pay.

Post-Retirement Benefits

Benefits, besides pensions, that an employer provides to retirees, which could include health insurance, life insurance, and other perks.

Life Insurance

A financial product that provides a monetary payout to beneficiaries upon the death of the insured person.