A Nation That Currently Has a Surplus in Its Current

question 31

Multiple Choice

A nation that currently has a surplus in its current account is called a

• A)net lender.
• B)net borrower.
• C)creditor nation.
• D)debtor nation.
• E)capital account surplus nation.

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Definitions:

Variable Overhead Efficiency Variance

A measure used in managerial accounting to assess the efficiency of variable overhead resource utilization, comparing the actual costs incurred to what should have been incurred at a given level of production.

Unfavorable

A term used to describe outcomes or variances that are negative for a business, such as lower sales or higher costs than expected.

Favorable

A term denoting a financial result that is better than expected or budgeted.

Standard Cost Card

A standard cost card details the expected costs of materials, labor, and overhead associated with producing a product.