Question 1
All differences between the flexible budget and actual performance result from
◦ differences in costs.
◦ operations.
◦ sales.
◦ differences in quantities.
Question 2
Flexible budgets are used as a tool for
◦ planning flexibility, and evaluation.
◦ evaluation, materiality, and flexibility.
◦ control, planning, and evaluation.
◦ control, planning, and materiality.