When the Actual Amount of Expenditure Is More Than the Budgeted

question 127

True/False

When the actual amount of expenditure is more than the budgeted amount,it is recorded as an "unfavorable" variance.

---

Definitions:

Termination

The act of ending an employment relationship or contract, either voluntarily by resignation or retirement, or involuntarily by dismissal or layoff.

Specific Intent

Specific intent entails a particular mental state in which a person engages in an act with a specific purpose or objective in mind.

Revocation Effective

The point at which a revocation, or calling back of an offer, becomes legally binding.

Invitation to Negotiate

A pre-contractual communication inviting parties to discuss terms before entering into a formal agreement.