Match Each Term with the Correct Abbreviation

question 10

Multiple Choice

Match each term with the correct abbreviation.

-Mesial

• A)M
• B)L
• C)I
• D)O
• E)D

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Definitions:

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.

Revenue Variance

The difference between actual revenue earned and the budgeted or expected revenue.