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Abbey Enterprises uses a fixed budget within its overall budgetary control process. This budget is usually prepared prior to the start of the budget period. Which of the following statements is not true? A. A fixed budget may be changed if required by the prevailing environment. B. A fixed budget is the same as the master budget. C. A fixed budget is not adjusted for periodic changes in sales and production volumes. D. A fixed budget is based upon the estimated fixed costs of production. |