Classify the Variable as Qualitative or Quantitative

question 7

Multiple Choice

Classify the variable as qualitative or quantitative.
-the number of seats in a school auditorium

• A) quantitative
• B) qualitative

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Definitions:

Management by Exception

A management strategy where only significant deviations from set standards are brought to the attention of management.

Variances

The differences between planned or expected financial outcomes and the actual results achieved.

Fixed Budget

A budget that outlines expected revenues and expenses over a specific period, which does not adjust in response to changes in business activity levels.

Static Budget

A budget that does not change or adapt to variations in business activity levels throughout the budgeting period.