You Made an Error When You Filed Your Tax Return

question 44

Multiple Choice

You made an error when you filed your tax return last year.You can correct this error by filing Form

• A)1040ES.
• B)1040X.
• C)1040E.
• D)Schedule A.
• E)Schedule D.

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Definitions:

Standard Amount

A predetermined benchmark for expenses, revenues, or units produced, used for budgeting and measuring performance.

Actual Output

The quantity of finished goods or services produced by a company over a specific period.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted cost of labor, based on the standard rate and actual hours worked.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs incurred and the expected costs based on the standard variable overhead rate.