08-31-2009, 05:04 PM
I think I was not taking your test. But your reply is correct.
But the following line in wrong
"Fixed includes only fixed costs, whereas a flexible budget includes only variable costs"
Both flexible and fixed budgets contain on budgeted fixed and budgeted variable costs.
Keep it up
Regards,
Awais Aftab
But the following line in wrong
"Fixed includes only fixed costs, whereas a flexible budget includes only variable costs"
Both flexible and fixed budgets contain on budgeted fixed and budgeted variable costs.
Keep it up
Regards,
Awais Aftab