Identify Which Statement Below Would Not Be a Possible Reason

question 68

Multiple Choice

Identify which statement below would not be a possible reason for a variance between a flexible budget and actual results.

• A)Material prices were different than expected.
• B)Labor prices were different than expected.
• C)The actual volume of activity was different than expected.
• D)The amount of labor used per unit of output was different than expected.

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Definitions:

Liquidated Assets

Assets that have been converted into cash or cash equivalents, often in the process of paying off debts.

Partnership

A legal arrangement in which two or more individuals share ownership of a business, including its profits, losses, and responsibilities.

Partnership Liabilities

Obligations that arise during the course of a partnership's operation that all partners are typically jointly and severally responsible for.

Liquidated Assets

are assets that have been converted into cash or cash equivalents by selling them on the open market.