The selection of levels of activity to depict a flexible budget
1. will be within the relevant range.
2. is largely a matter of expediency.
3. is governed by generally accepted accounting principles.
A) 1
B) 2
C) 3
D) 1 and 2

Question

The selection of levels of activity to depict a flexible budget
1.	will be within the relevant range.
2.	is largely a matter of expediency.
3.	is governed by generally accepted accounting principles.
A)	1
B)	2
C)	3
D)	1 and 2

Quizplus · Accepted Answer

The statement is governed by generally accepted accounting principles, which includes both the measurement and disclosure principles. Therefore, option 1 (measurement principle) and option 2 (disclosure principle) are both correct, and the best answer is D.

The Selection of Levels of Activity to Depict a Flexible