The Difference Between Actual Results and Master Budget Amounts Is

question 183

Multiple Choice

The difference between actual results and master budget amounts is referred to as

• A)an efficiency variance.
• B)a spending variance.
• C)a static budget variance.
• D)a flexible budget variance.

---

Definitions:

Chief Financial Officer

A senior executive responsible for managing the financial actions of a company, overseeing financial planning, risk management, and financial reporting.

Corporate Controller

A senior executive who oversees the accounting and financial reporting functions within a company, ensuring accuracy and compliance with regulations.

Financial Decision Making

The process of making choices relating to investments, budgeting, savings, and spending with the aim of optimizing financial goals.

Treasurer

The executive in charge of external financing in most companies. The treasurer generally reports to the CFO.