1
Q
What is a fixed budget?
A
A single budget drawn up at the start of the year and based on the budgeted sales and production volumes.
2
Q
What is a flexible budget?
A
a budget drawn up at the start of the year, involves a series of budgets based on various sales and production volumes, shows multiple outcomes
3
Q
What is a flexed budget?
A
A revised budget at the end of the end of the year, based on the actual sales and production volumes but using the budgeted unit revenues and costs.
