Which of the following statements regarding budgets is not true?

Group of answer choices

Comparing actual costs to a planning budget is not a good way to assess whether variable costs are under control.

The main difference between a flexible budget and a planning budget is that the planning budget is not adjusted for changes in the level of activity.

Fixed costs are not included in a flexible budget because they do not change when the level of activity changes.

A flexible budget allows managers to compare actual costs to what the budgeted costs should have been, given the actual level of activity.