1) A budget prepared for an expected level of activity is called a static budget. A) flexible budget B) static budget C) variable budget D) mobile budget 2) A budget prepared for different levels of activity is called a flexible budget. A) mobile budget B) operating budget C) flexible budget D) static budget 3) The static budget is based on the current production level and the flexible budget is based on the expected production level. A) current; expected B) expected; real C) expected; planned D) current; projected 4) Differences between actual results and the static budget at the originally planned production level are static budget variances. A) flexible budget B) financial budget C) operating budget D) static budget 5) A static budget variance ynfavacabls to operating income may be due to A) ynfavorable income variation; ynfavorabls cost variance 8) vafavorable income variation; favorable cost variance C) faverable income variation; unfovorable cost variance All previous/