Question: The most important difference between a master budget and a flexible budget is that the master budget is a. Prepared by the head office while

The most important difference between a master budget and a flexible budget is that the master budget is

a. Prepared by the head office while flexible budgets are prepared in each division.

b. Based on planned volume while the flexible budget is based on actual volume.

c. Based on actual volume while the flexible budget is based on planned volume.

d. Based on standard price while the flexible budget is based on actual price.

e. Based on actual price while the flexible budget is based on standard price.

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