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Which of the following statements is correct? i. A flexible budget is calculated for actual activity level only. ii. A static budget can be calculated

Which of the following statements is correct?

i. A flexible budget is calculated for actual activity level only.

ii. A static budget can be calculated for a number of activity levels.

iii. A static budget is prepared for budgeted activity level only.

A.

i and iii

B.

ii

C.

i

D.

iii

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Question

Which of the following statements is correct? i. A flexible budget is calculated for actual activity level only. ii. A static budget can be calculated

Which of the following statements is correct? i. A flexible budget is calculated for actual activity level only. ii. A static budget can be calculated for a number of activity levels. iii. A static budget is prepared for budgeted activity level only. A. i and iii B. ii C. i D. iii

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Managerial Accounting

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Which of the following statements is correct?

i. A flexible budget is calculated for actual activity level only.

ii. A static budget can be calculated for a number of activity levels.

iii. A static budget is prepared for budgeted activity level only.

A.

i and iii

B.

ii

C.

i

D.

iii