Which of the Following Statements Is/are Correct in Relation to Changes

question 7

Multiple Choice

Which of the following statements is/are correct in relation to changes brought about by the federal Electronic Transactions Act 1999 and identical state legislation?

• A)Electronic contracts for real estate agreements may be substituted for the usual 'paper' documents.
• B)Electronic documents may be substituted for paper documents that are used to confirm identities,such as documents that are used for migration purposes.
• C)Electronic signatures,such as PINs,may be substituted for handwritten signatures.
• D)All of the above.

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Definitions:

Variable Overhead Efficiency Variance

The difference between the expected (standard) and actual variable overhead costs based on the actual level of an activity.

Variable Manufacturing Overhead

The portion of manufacturing overhead costs that varies directly with the volume of production, such as utilities for machinery.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the standard cost of variable overhead allocated for the actual production achieved.

Variable Overhead Rate Variances

The difference between the actual variable overhead incurred and the standard cost allocated, based on actual production activity.