Examlex
Why does annual income inequality data create misperceptions of spending in a country with income mobility?
Budgeting
A process of creating a plan to spend your money, outlining projected income and expenses over a period.
Spending Variances
The difference between the actual amount spent and the budgeted amount for a particular accounting category.
Favorable
A term used in finance and accounting indicating that actual performance is better than the expected or budgeted performance.
Unfavorable
A term used in budgeting and accounting to describe a financial condition or variance that is worse than expected or budgeted.
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