Final answer:
A static budget is false a different term for the master budget. A static budget is a budget that does not change with changes in the level of activity.
Step-by-step explanation:
A static budget is false a different term for the master budget. A static budget is a budget that does not change with changes in the level of activity. It is prepared based on a single estimated level of activity and is not adjusted for variations in actual activity levels. The master budget, on the other hand, is a comprehensive plan that includes multiple budgets for different areas of business operations, such as sales, production, and finance.