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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Discuss the differences between static and flexible budgets.

To determine

Differentiate between static and flexible budgets.

Explanation

Flexible Budgets:

Flexible budgets are prepared for various levels of activities or outputs. This enables the entity to know the result for the selected level of activity.

Static Budgets:

Static budgets do not deviate with the level of activity or volume. Static budgets can be used to make capital expenditure budget or master budget.

Differences between flexible and static budgets are listed as follows:

BasisStatic BudgetFlexible Budget
Level of activityDoes not change with the level of activity...

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