Question 1 1 pts The difference between a static budget and a flexible budget is as follows: The flexible budget highlights a single activity, while a static budget allows budgeting over a range of activities. The static budget highlights a single activity level, while the flexible budget shows expected results for several activity levels. The flexible budget measures expected income throughout a relevant range, while the static budget measures various activity levels for only one relevant range. OThere is no difference between a static budget and a flexible budget except for the names. D Question 2 1 pts Continuous budgeting measures the ten-year period from the beginning of the next fiscal year. means that a new 12-month budget must be made after the current 12-month budget expires. is the responsibility of the external auditor for the corporation. None of the above answers is correct. 1 pts Question 3 The master budget for a corporation begins with the sales budget. Othe production budget. the cash budget the cost of good sold budget