Multiple choice Question 44 Which one of the following is true of a flexible budget? It is prepared when managers are unsure of activity levels. It projects budget data at a pre-planned level of activity. It is useful in controlling variable and fixed costs. It shows no differences between actual and budgeted amounts because it is prepared after the actual results are determined. Multiple Choice Question 24 Sheridan, Inc. is considering the following alternatives: Revenues Variable costs Fixed costs Alternative 1 Alternative 2 $120000 $120000 60900 64100 34500 38200 Which of the following are relevant in choosing between the alternatives? O variable costs O revenues fixed costs variable costs and fixed costs