Match the Following Terms with the Items Below

question 66

Multiple Choice

Match the following terms with the items below:
-Static budget

• A)Difference between the actual amount and the flexible budget amount
• B)A budget that specifies costs for a range of activity
• C)A budget for a particular level of activity
• D)A report that compares actual with planned costs
• E)​Actual variable overhead − (SVOR × Actual hours)

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Definitions:

Treasury Stock

Stocks that have been initially distributed and then bought back by the company that issued them, thus decreasing the quantity of available shares in the market.

Contra Equity Account

An equity account where balances are opposite to the normal accounts and are used to reduce the value of equity accounts.

Voting Rights

The entitlements of shareholders to vote on company matters, typically proportional to the number of shares they hold.

Treasury Stock

Refers to shares that were once part of the outstanding shares and have been bought back by the company.