Question
The basic difference between a master budget and a flexible budget is that a: Multiple Choice a) flexible budget considers only variable costs but a
The basic difference between a master budget and a flexible budget is that a:
Multiple Choice
a) flexible budget considers only variable costs but a master budget considers all costs.
b) flexible budget allows management latitude in meeting goals whereas a master budget is based upon a fixed standard.
c) master budget is for an entire production facility but a flexible budget is applicable to single departments only.
d) master budget is based on one specific level of production and a flexible budget can be prepared for any production level within a relevant range.
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