Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enouah cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Check My Work Sometimes an item may be a decrease in one period and an increase in a different period. Review the definitions of static budgets and flexible budgets. What weaknesses are shown by this cash budget? Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? c. What are the budget implications for Craig Kovar? Craig can see that his present plan sufficient cash. If Craig did not budget but went ahead with the original plan, he would be at the end of December, with no time left to adjust. Feedback Check My Work Sometimes an item may be a decrease in one period and an increase in a different period. Review the definitions of static budgets and flexible budgets. What weaknesses are shown by this cash budget