Static budget is another name for:Multiple ChoiceFlexible budget.Variable budget.Fixed budget.Standard budget.Master budget.

Step 1: Break Down the Problem

To identify the correct answer from the given options, we need to understand the concept of a static budget and how it relates to the other types of budgets listed.

Step 2: Relevant Concepts

• Static Budget: A static budget remains fixed regardless of changes in the level of activity or revenue. It sets the budget based on specific assumptions about the future and does not change after it is established.
• Flexible Budget: Adjusts based on actual activity levels.
• Variable Budget: Similar to a flexible budget but typically focuses on variable costs.
• Fixed Budget: Often synonymous with static budgets, as it does not change with actual performance.
• Standard Budget: Involves variance analysis against standard costs and revenues but may not be directly synonymous with a static budget.
• Master Budget: A comprehensive financial planning document that incorporates multiple types of budgets.

Step 3: Analysis and Detail

Given that a static budget does not change once it is set and is often referred to interchangeably with a fixed budget, we focus on the definitions:

1. Static Budget: Fixed budget that does not accommodate changes in business activity.
2. Fixed Budget: Often considered the same as a static budget because it does not change.
3. Flexible Budget: Changes based on actual activity levels.
4. Variable Budget: Deals with costs or revenues that vary with activity levels.
5. Standard Budget: Aimed at tracking performance against standards.
6. Master Budget: A comprehensive budget plan.

Step 4: Verify and Summarize

Considering the definitions and characteristics of each type of budget, the static budget is most accurately identified with the fixed budget.

Final Answer

Fixed budget is another name for a static budget.