What is the difference between a static and flexible Budget? How are flexible budgets prepared?
Answer
What is the difference between a static and flexible Budget? How are flexible budgets prepared?
Question #5: Explain the difference between static and flexible budgets. Provide a detailed example of how companies can use flexible budgets for decision making
10. The difference between a Master Budget and a Flexible Budget is a. Master Budgets are always more important. b. Flexible Budgets are restated to actual results. c. Master Budgets are created on actual results. d. Flexible Budgets are adapted to marketing changes. e. there is no difference if they are for the same period.
What is the difference between a static budget and a flexible budget? When is each used? explain
What is a flexible budget? When is it prepared? What is a static, or planning, budget? When is it prepared?
Describe an example of how an unfavorable difference between actual and budget amounts on a static budget can become a favorable difference on a flexible budget.
The difference between actual revenues and expenses and the flexible budget is known as the: A. flexible budget variance B. static budget variance C. master budget variance D. volume variance
Question 7 (1 point) The flexible budget O is prepared before the master budget is relevant both within and outside the relevant range O eliminates the need for a master budge O is a series of static budgets at different levels of activity
What is a flexible budget? What types of organizations might use flexible budgets? Why are flexible budgets useful?
ALL TRUE OR FALSE QUESTIONS: A) Differences between the static planning budget and the flexible budget show what should have happened because the actual level of activity differed from what had been planned. B) Fixed costs should not be included in a flexible budget because they do not change when the level of activity changes. C) An activity variance is the difference between an actual revenue or cost and the revenue or cost in the flexible budget that is adjusted...
There are different types of budgets, including... A Flexible B) Static Fixed D All of the above answers are correct, each is a type of budget