ACC309- UNIT 4

1)What is a budget?

2)What are the (six) benefits of having a budget?

3)What is a master budget? Describe its components.

4)What is a static planning budget?

5)What is a flexible budget?

6)How does a flexible budget differ from a static planning budget?

7)What are three reasons that actual results may differ from what had been budgeted for at the beginning of a period?

8)How does a flexible budget account for these variances?

Please answer all of the questions, if you can not answer all of the questions do not reply.