Budget which calculates expected revenues and expected costs, based on actual output quantity is named as
A. flexible budget
B. fixed budget
C. variable budget
D. multiplied budget
Answer: Option A
Solution(By Examveda Team)
Budget which calculates expected revenues and expected costs, based on actual output quantity is named as flexible budget. A flexible budget, also called a variable budget, is financial plan of estimated revenues and expenses based on the current actual amount of output.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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