Posted: March 8th, 2023

Differentiate between the 2 types of budgets.

Budgets are an important part of any business, as they help to plan the financial resources and allocate funds efficiently. There are various types of budgets used in businesses today; two common ones being static budgeting and flexible budgeting. While both formats play important roles in a company’s financial planning process, it is necessary to understand their differences as each type has its own advantages and disadvantages.

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