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    Slybone's Avatar
    Slybone Posts: 33, Reputation: 1
    Junior Member
    		  
    #1

    Jul 27, 2008, 05:29 PM
    A budget that is based on the actual activity of a period is known as a
    A budget that is based on the actual activity of a period is known as a:


    Master budget.

    Flexible budget.

    Continuous budget.

    Static budget.

    I am stuck between flexible budget and continuous budget. Which would be the correct answer and why?
    afine's Avatar
    afine Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Jul 29, 2008, 07:17 PM
    Flexible shows costs at different production levels, master and static are for a single level of volume based on an estimate of the level of production and sales for the coming period
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