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Syllogism 3F
Given the following syllogism:
Musicians are not accomplished unless they practice. Thus, Claire must not be accomplished because she never practices.
-For Syllogism 3F, the minor premise is:
Favorable Variance
A financial term indicating that actual costs were lower or revenues were higher than planned.
Budgeted Amount
The projected costs or revenues allocated to a specific activity or period, based on estimates.
Budget Ratcheting
The practice of setting future budget allocations based on the current period’s expenditures, discouraging under-spending in fear of budget cuts.
Budget Lapsing
A type of budgeting that does not allow managers to carry over budget surpluses from one year into the next year. Under a budget lapsing system, funds not spent are lost at the end of the budget period.
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