Flexible Budgets Reflect: I. Operations for Actual Costs and Revenues

Multiple Choice

Flexible budgets reflect:
I. Operations for actual costs and revenues
II. Operations for costs and revenues for the volume of sales from the master budget
III. Operations for actual volume of sales with budgeted variable costs per unit and budgeted total fixed costs

A) I only
B) II only
C) III only
D) II and III only