Question Details

The amounts in a flexible budget 



1. Another name for a static budget is a variable budget.
True False
2. Fixed budgets are also known as flexible budgets.
True False
3. The amounts in a flexible budget are based on one expected level of sales or production.
True False
4. A variable or flexible budget is so named because it only focuses on variable costs.
True False
5. A fixed budget performance report never provides useful information for evaluating variances.
True False




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