Final answer:
The differences between a flexible budget and actual results are known as flexible budget variances, which are discrepancies derived from comparing actual spending or earnings against the flexible budget's projections adjusted for the real level of activity.
Step-by-step explanation:
The differences between the flexible budget and the actual results are called flexible budget variances. This term is used in managerial accounting to describe the variances that occur when comparing what was actually spent or earned to what would have been spent or earned based on the flexible budget's projections, which are adjusted for the actual level of activity.
These variances can be further broken down into different categories, such as volume variances, which reflect differences due to changes in the level of activity, and price or efficiency variances, which refer to differences in the cost or usage of resources.