An advantage of a flexible budget is that it: A. considers only variable costs. B. incorporates adjustments caused by volume changes to better reflect performance. C. allows management freedom in meeting goals. D. allows comparison of actual costs to previous years' budgeted costs. E. minimises unfavourable budget variances.

Flexible budgeting allows for:a.Adjustments based on changes in activity levelsb.Fixed allocation of resourcesc.Preparing a budget based on actual costsd.Ignoring variations in costsClear my choice

The flexible budget performance report directs management's attention to areas where: (Check all that apply.)Multiple select question.small flexible variances exist.small quantity variances exist.revenues differ substantially from budgeted amounts.costs differ substantially from budgeted amounts.

The following are the benefits of the budgeting, except:Select one:a. Budgets help managers tailor their operations to meet their personal goals.b. Planning involves setting short-term objectives that align with the company’s long-term strategyc. Budgets can be compared to actual amounts, and the analysis can be used to evaluate current operations and employee performance.d. Provide a more detailed picture of what goals need to be accomplished.

Fixed budgeting involves:a.Adjusting the budget periodicallyb.Allocating resources based on flexible needsc.Creating a budget based on a fixed level of activityd.Setting variable costs as the budgetary targetClear my choice

Variable budget is another name for:Multiple ChoiceCash budget.Rolling budget.Fixed budget.Manufacturing budget.Flexible budget.