Question: Select the incorrect statement regarding flexible budgets. Multiple Choice Flexible budgets often show the estimated revenues and costs at multiple volume levels. A flexible budget

Select the incorrect statement regarding flexible budgets.

Multiple Choice

  • Flexible budgets often show the estimated revenues and costs at multiple volume levels.

  • A flexible budget is used to compare actual to budgeted amounts.

  • A flexible budget is also known as a master budget.

  • Standard prices and costs are used in preparing a flexible budget.

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