Question: A flexible budget report should exclude variable costs because they can be expected to change with a change in the level of activity. A flexible

A flexible budget report should exclude variable costs because they can be expected to change with a change in the level of activity.
A flexible budget performance report contains activity variances but not revenue or spending variances.
Multiple Choice
Only statement 1 is true.
Only statement 2 is true.
Both statements are true.
Neither statement is true.
A flexible budget report should exclude variable

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