Question: What is the basic difference between a master budget and a flexible budget? Master budget is for five year period and flexible budget is for

What is the basic difference between a master budget and a flexible budget?

Master budget is for five year period and flexible budget is for one year period.

Master budget is on financial terms and flexible budget is on quantitative terms.

Master budget is for specific capacity and flexible budget is for multiple capacity.

Master budget is prepared on actuals and flexible budget is based on standards.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

What is the basic difference between a master budget and a flexible budget? Master budget is for five year period and flexible budget is for one year period. Master budget is on financial terms and...

Q:

What is the basic difference between a master budget and a flexible budget? Master budget is for five year period and flexible budget is for one year period. Master budget is on financial terms and...

Q:

The basic difference between a master budget and a flexible budget is that a master budget is Only used before and during the budget period and a flexible budget is only used after the budget period...

Q:

The basic difference between a master budget and a flexible budget is that a master budget is Based on one specific level of production, and a flexible budget can be prepared for any production level...

Q:

Question 21 2 points Save A [47] The basic difference between a master budget and a flexible budget is that a master budget is A. Based on one specific level of production, and a flexible budget can...

Q:

artment of a four-department 10. Additional materials are added in the second department of a fou production process. However, this addition does not increase the number of units being produced in...

Q:

The basic difference between a master budget and a flexible budget is that a master budget is a. Only used before and during the budget period and a flexible budget is only used after the budget...

Q:

The basic difference between a master budget and a flexible budget is that a master budget is a. Only used before and during the budget period and a flexible budget is only used after the budget...

Q:

47. The basic difference between a master budget and a flexible budget is that a master budget is a. Only used before and during the budget period and a flexible budget is only used after the budget...

Q:

The basic difference between a master budget and a flexible budget is that a master budget is a. Only used before and during the budget period and a flexible budget is only used after the budget...

Q:

Network bandwidths have increased from about 10 Mbps to 1 Gbps in the last decade. However, the latency (time for a message to be transferred from one place to another) has not increased at this rate...

Q:

Required: Discuss briefly, citing sections, whether the following amounts are deductible for the taxpayer (1 mark each). i. The taxpayer purchased a new microwave oven (for $150) for the tenants to...

Q:

A limitation of an audit is caused by: Oinability to test all of the fnancial report. judgement is required more in some area's than others tendency to focus on material misstatements

Q:

How to get formula to solve this question? how to get this answer Energy/Momentum Ballistic Pendulum 8 Sorry, try again Energy After Collision (J): Predicted = 387038.78, Actual = 4.67 Original Speed...

Q:

Explain the major provisions of employee benefits programs. page 539

Q:

Discuss the growth in benefits costs and the underlying reasons for that growth. page 536

Q:

Describe the effects of benefits management on cost and workforce quality. page 553