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A budget that accommodates many levels of production volume is a:
A flexible budget allows for many levels of production volume.
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Which of the following statements about flexible budgets is true? They are:
A flexible budget would be chosen when a manager expects changes in activity level of production.
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The most direct way to prepare a cash budget for a manufacturing firm is to include:
The simplest cash budget would include the components of cash collections and cash disbursements.
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A plan that is created using budgeted revenue and costs but is based on the actual units of output is known as a:
A flexible budget uses budgeted revenue and costs per unit, but it is adjusted based on actual units of output.
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All of the following are considered operating/financial budgets, except the:
Capital budgets plan for the purchase of capital assets which only affect the operating budget through their subsequent effect on expense via depreciation.
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An annual budget would be classified as which type of plan?
Annual budgets are single-use tactical plans. This means they are relatively short-term in nature and cover periods of up to 18 months.
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