budget based actual activity period quizlet

A budget that is based on the actual activity of a period is known as a Quizlet

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What budget is based on actual activity of a period?

A flexible budget is a revised master budget based on the actual activity level achieved for a period. The master budget is established before the period begins for planning purposes, and the flexible budget is established after the period ends for control and evaluation purposes.

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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