1.) Which of the following statements describes variable costs?
A) Costs that vary on a per unit basis as the level of activity changes
B) Costs that vary in total in direct proportion to changes in the level of activity
C) Costs that remain the same in total dollar amount as the level of activity changes
D) Costs that vary on a per unit basis but remain the same in total as the level of activity changes
2.) A variant of fiscal-year budgeting whereby a twelve-month projection into the future is maintained at all times is called:
A) Flexible budgeting
B) Continuous budgeting
C) Zero-based budgeting
D) Master budgeting