Select the Correct Statement Regarding Flexible Budgets

question 86

Multiple Choice

Select the correct statement regarding flexible budgets.

• A) A flexible budget can only be prepared for a single level of activity.
• B) A flexible budget is not used for planning.
• C) A flexible budget shows expected revenues and costs at a variety of activity levels.
• D) A flexible budget is also known as the master budget.

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Definitions:

Assimilation

The process by which a person or group acquires the social and psychological characteristics of another group.

Culture

A set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group.

Static

Refers to something that is fixed, unchanging, or lacking in movement.

Preferred Beliefs

Ideals or convictions that individuals prioritize or hold in high regard due to personal values, experiences, or desires.