Ask Question
BusinessBusiness
7 August, 11:55

Select the incorrect statement regarding flexible budgets. Multiple Choice Flexible budgets often show the estimated revenues and costs at multiple volume levels. A flexible budget is used to compare actual to budgeted amounts. A flexible budget is also known as a master budget. Standard prices and costs are used in preparing a flexible budget.

+2
Answers (2)
  1. 7 August, 12:05
    0
    Option C is the correct answer ...

    A flexible budget is also known as a master budget is incorrect

    Explanation:

    A master budget is a term used for aggregation of all budgets prepared by all divisions.
  2. 7 August, 12:11
    0
    A flexible budget is also known as a master budget

    Explanation:

    A flexible budget is that which is prepared to reflect the actual activity level achieved.

    It is useful for a control purpose; to compare the actual result to the expected performance. The expected performance is the the flexible budget which is a revised master budget.

    Also it uses the assumptions of the static budget like standard costs and prices.

    The incorrect statement is that a flexible budget is also known as a master budget.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Select the incorrect statement regarding flexible budgets. Multiple Choice Flexible budgets often show the estimated revenues and costs at ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Perlman Land Development, Inc. purchased land for $70,000 and spent $30,000 developing it. It then sold the land for $160,000. Sheehan Manufacturing purchased land for a future plant site for $100,000.
Answers (1)
Explain how a country could have a deficit on its primary income but a current account surplus. 4 marks
Answers (1)
Think about the company you currently work for or one you have worked for in the past. How do the economy, technology, global environment, market forces (supply, demand, competition, inflation, unemployment, government regulation, etc.
Answers (1)
If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility from consuming three candy bars, the marginal utility of the second candy bar is A. 20 utils. B. 5 utils. C. 25 utils. D.
Answers (1)
When do many companies expect to have a net loss
Answers (1)
New Questions in Business
If products A and B are complements and the price of B decreases, the A. demand curves for both A and B will shift to the left. B. amount of B purchased will increase, but the demand curve for A will not shift. C.
Answers (1)
Fran has a job involved with controlling the flow of oil through a series of pipelines at the refinery. As a part of his work, he needs to interpret diagrams, levels, and readings from gauges.
Answers (1)
Choose the appropriate stage of the venture life cycle in which the following activities would occur. Transition from one-person leadership to team management leadership New-product development Search for capital Increased competition Venture
Answers (1)
According to the International Monetary Fund, a perennial challenge facing all of the world's countries, regardless of their level of economic development, is achieving financial stability, economic growth, and higher living standards.
Answers (1)
Round Hammer is comparing two different capital structures: An all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 155,000 shares of stock outstanding.
Answers (1)
Home » Business » Select the incorrect statement regarding flexible budgets. Multiple Choice Flexible budgets often show the estimated revenues and costs at multiple volume levels. A flexible budget is used to compare actual to budgeted amounts.
Sign Up Forgot Password?