Match the Following Terms with Their Description

question 90

Multiple Choice

Match the following terms with their description:
i. NOW()
II. TODAY()
III. PV
IV. RATE
v. PMT

• A) Current amount of a loan
• B) Helps figure out how much a loan will cost each month
• C) A good example is interest
• D) Returns the system date
• E) Returns the system date and time

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Definitions:

Labor-Hour

A measure of the amount of work or labor time required or used to produce a good or service.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the standard cost of variable overhead that should have been incurred based on the efficiency of operations.

Favorable

An accounting term referring to actual results being better than projected or budgeted figures, often used in the context of variances.

Unfavorable

A term often used in finance and accounting to describe a variance or outcome that leads to a worse financial position than expected.