Economics · Budgetary Systems
Consider the following statements regarding types of budgets: 1. An annual budget that can be broken down into monthly budgets, which differ depending on the number of working days in each month, is called a flexible budget. 2. An annual budget set before the start of a year based on estimated sales and production volumes is called a fixed budget. Which of the above statements is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both Statement 1 and Statement 2 are True
- 2Both Statement 1 and Statement 2 are False
- 3Statement 1 is False and Statement 2 is True✓
- 4Statement 1 is True and Statement 2 is False
Correct answer
Statement 1 is False and Statement 2 is True
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