Financial Management Draws Heavily on the Following Related Disciplines

question 72

Multiple Choice

Financial management draws heavily on the following related disciplines:

• A) accounting
• B) macroeconomics
• C) microeconomics
• D) All of these disciplines are applicable

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Definitions:

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost multiplied by the actual quantity of materials used.

Materials Quantity Variance

This variance measures the difference between the actual quantity of materials used in production and the expected quantity, multiplied by the standard cost per unit of material.

Safety Suits

Specialized protective clothing designed to safeguard the wearer from hazardous conditions or substances in various work environments.

Net Operating Income Variance

The difference between the actual net operating income and the budgeted or forecasted net operating income, used to assess a business's performance.