1) __ budgets provide expected revenues and costs for several levels of activity. 6.66 Points static master flexible continuous 2) are budgets for a single activity level. 6.66 Points flexible budgets master budgets both A and B Ostatic budget 4) Which of the following is descriptive of an activity-based flexible budget? 6.66 Points based on actual costs for each activity center and related cost driver based on budgeted costs for each activity center and related cost driver is limited to no more than ten activity centers A and C 5) When revenues or variable costs per unit of activity and fixed costs per period may not be as expected, this is called 6.66 Points activity-budget variance master-budget variance static-budget variance flexible-level variance