Question: The basic difference between a master budget and a flexible budget is that a: Multiple Choice master budget is based on one specific level of

The basic difference between a master budget and a flexible budget

The basic difference between a master budget and a flexible budget is that a: Multiple Choice master budget is based on one specific level of production and a flexible budget can be prepared for any production level within a relevant range. master budget is for an entire production facility but a flexible budget is applicable to single departments only. flexible budget considers only variable costs but a master budget considers all costs. flexible budget allows management latitude in meeting goals whereas a master budget is based upon a fixed standard

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