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What is a static budget quizlet?o A static budget is a budget prepared for only one level of activity. o It is based on the level of output planned at the start of the budget period. o The master budget is an example of a static budget.
What is a continuous or perpetual or rolling budget quizlet?A rolling budget is a budget that. is continuously updated, so that the next 12 months of operations are always budgeted.
What is a flexible budget quizlet?What is a flexible budget? A report showing estimates of what revenues and costs should have been, given the actual level of activity for the period. -takes into account how changes in activity affect costs.
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A budget that is based on the actual activity of a period is known as a Quizlet
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