Question: LO 1 . How do managers use budgets to control business activities? a ) A budget prepared for only one level of sales volume is

LO1. How do managers use budgets to control business activities?
a) A budget prepared for only one level of sales volume is a ___________________ budget.
i.) An increase in operating income between an actual amount and a budgeted amount is a ______________ variance.
ii.) A decrease in operating income between an actual amount and a budgeted amount is a ______________ variance.

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