Asked by
bryanna content
on Nov 17, 2024
Verified
The flexible budget is, in effect, a series of static budgets for different levels of activity.
Flexible Budget
A budget that shows the expected results of a responsibility center for several activity levels.
Static Budgets
Financial plans that remain unchanged over the budget period, irrespective of any variations in activity levels.
- Understand the importance of flexibility and adaptive planning in budgeting.
Verified Answer
ZE
Learning Objectives
- Understand the importance of flexibility and adaptive planning in budgeting.