Practice | Prepare Flexible Budgets

Principles of Accounting Volume 2: Managerial Accounting

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Q1 | Which budget evaluates the results of operations at the actual level of activity?

capital budget

cash budget

flexible budget

static budget

Q2 | What is the main difference between static and flexible budgets?

The fixed manufacturing overhead is adjusted for units sold in the flexible budget.

The variable manufacturing overhead is adjusted in the static budget.

There is no difference between the budgets.

The variable costs are adjusted in a flexible budget.

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