What is meant by continuous budget?

Select one:

a. A budget that rolls forward one month as the current month is completed

b. A budget prepared from first principles

c. A budget that is based on the previous year, adjusted for known changes

d. The variable elements of a budget, excluding fixed costs

Which of these are not relevant costs?

Select one:

a. Sunk costs

b. Committed fixed costs

c. Avoidable costs

d. Incremental costs