Question: Select the correct statement regarding flexible budgets. Multiple Choice 1.A flexible budget can only be prepared for a single level of activity. 2.A flexible budget

Select the correct statement regarding flexible budgets. Multiple Choice

1.A flexible budget can only be prepared for a single level of activity.

2.A flexible budget is not used for planning.

3.A flexible budget shows expected revenues and costs at a variety of activity levels.

4.A flexible budget is also known as the master budget.

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