A Sales Volume Variance Will Be Favourable When

question 7

Multiple Choice

A sales volume variance will be favourable when:

• A)actual units sold is greater than budgeted sales volume.
• B)actual units sold is less than budgeted sales volume.
• C)actual selling price is greater than budgeted selling price.
• D)actual contribution margin is greater than budgeted contribution margin.

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Definitions:

Surplus

Funds that remain after a partnership has been dissolved and all other debts and prior obligations have been settled.

Vested Property Right

A right concerning property ownership that is fully guaranteed and cannot be taken away without due process.

Certificate of Limited Partnership

A legal document that formalizes the establishment of a limited partnership in accordance with state laws.

Secretary of State's Office

The office responsible for a range of duties including managing state records, overseeing elections, and handling business registrations depending on the country or state.