A budget prepared on the basis of a standard or a fixed level of activity is called a ____________.
A
Fixed budget
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B
Flexible budget
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C
Sales budget
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D
Master budget
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Solution
The correct option is C Fixed budget A fixed budget is a budget that does not change or flex for increases or decreases in volume. ("Volume" could be sales, units produced, or some other activity.) A fixed budget is also known as a static budget.