Asked by anmol setia on Jul 12, 2024
Verified
Shows expected results at several activity levels
A)Static budget
B)Flexible budget
C)Master budget
D)Sales budget
E)Production budget
Flexible Budget
A budget that adjusts or flexes with changes in the volume or activity level, allowing better control and comparison between actual and budgeted performance.
Static Budget
A budget that does not change or adjust to variations in business activity levels throughout the budget period.
Master Budget
A comprehensive financial planning document incorporating all of a company's individual budgets and financial plans, projecting its overall financial activities.
- Explain the role of flexible and static budgets in planning and control.
Verified Answer
RB
Learning Objectives
- Explain the role of flexible and static budgets in planning and control.