Question: Budgeting is a tool used by management for performing the functions of planning, coordinating, and controlling operations of a business . Two main types of

Budgeting is a tool used by management for performing the functions of planning, coordinating, and controlling operations of a business. Two main types of budgeting: static budgets and flexible budgets.

Question: Explain the differences between the 2 types of budgets using different examples the types of business of company that would benefit from using a flexible budget while supporting your selection and include the advantage for using a flexible budget over a static budget.

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