A Flexible Budget Is a Summary of Expected Costs for a Range

question 115

True/False

A flexible budget is a summary of expected costs for a range of activity levels and is geared to changes in the level of productive output.

---

Definitions:

Organization

An entity, typically comprising a group of people, that works toward common goals or objectives, structured in such a way to facilitate management and operations.

Information Systems

Systems designed to collect, process, store, and distribute information to support decision making and control in an organization.

3PL Relationships

Business arrangements between companies and third-party logistics providers to manage and execute logistics services more efficiently.

Logistics and Supply Chain Processes

The integrated activities required to plan, control, and execute a product's flow from materials to production to distribution in the most economical way possible.