Describe how a flexible budget is useful in planning for an organization.
What will be an ideal response?
Answers will vary.
Because a flexible budget shows several levels of activity, it indicates revenues, expenses, and/or profits at each of these levels of activity. Therefore, it allows managers to anticipate organizational results under a variety of scenarios. A flexible budget provides what-if information for managers.
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___________is the association of the costs incurred with the associated revenue of a period
Fill in the blank(s) with correct word
Benchmarking and scanning are sufficient to stay ahead of the innovation curve.
Answer the following statement true (T) or false (F)
Given the same income, consumers in different social classes will handle themselves and their money very differently.
Answer the following statement true (T) or false (F)
The only type of monopoly that is prohibited by law is
a. one that raises prices. b. one that arises from unlawful acts. c. one that causes business failure. d. none of these.