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Approaches to budgets
Methods of budgeting
3.1 Fixed and flexible budgeting
A fixed budget is a A flexible budget is
budget prepared for a prepared for a number
single level of activity. of levels of activity and
can be ‘flexed’ to the
actual level of activity
for control purposes.
Illustrations and further practice
Now try TYU question 1 from Chapter 3 of the Study Text.
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