1 answer

The method of adjusting the budget to reflect the actual volume of sales is called

Question:

The method of adjusting the budget to reflect the actual volume of sales is called


Answers

Answer: Flexible budgeting.

Explanation:

Budgets are generally prepared for a specific level of activity and such a budget is called a 'Static Budget'.

The static budget cannot be used for comparison where the actual level of activity achieved is different from the activity level of the static budget. This is because the costs and revenues are related to the activity level assumed in the static budget.

To make comparisons meaningful, the budget has to be reworked to project the revenues and costs for the actual activity level. Such an adjusted budget is called 'flexible budget' and the method of doing so is called 'flexible budgeting'.

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