Examlex
Malander Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During November, the kennel budgeted for 3,400 tenant-days, but its actual level of activity was 3,390 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for November:Data used in budgeting: Actual results for November:
The activity variance for wages and salaries in November would be closest to:
Intended Beneficiary
A person or entity outside of a contract whom the parties intend to benefit directly through the contract’s performance.
Court
A legal institution where disputes are settled, judgments are made, and justice is administered under the law.
Contract
A legally binding agreement between two or more parties that outlines obligations and rights, enforceable by law.
Performance
The execution or fulfillment of terms as specified in a contract, such as the completion of duties or the payment of a sum.
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