Select the Incorrect Statement Regarding Flexible Budgets

question 108

Multiple Choice

Select the incorrect statement regarding flexible budgets.

• A) Flexible budgets often show the estimated revenues and costs at multiple volume levels.
• B) A flexible budget is used to compare actual to budgeted amounts.
• C) A flexible budget is also known as a master budget.
• D) Standard prices and costs are used in preparing a flexible budget.

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Definitions:

Individualist Cultures

Societies that emphasize personal goals and achievements, encouraging individuals to stand out and be independent from the collective group.

Collectivist Cultures

Collectivist cultures emphasize the needs and goals of the group as a whole over the needs and desires of each individual.

Mate Selection

The process by which individuals choose partners based on a combination of personal, cultural, social, and biological factors.

Self-effacing Humility

A personality trait characterized by a person's tendency to downplay their own achievements or virtues, often out of a desire to appear humble or unassuming.