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Choose the One Alternative That Best Completes the Statement or Answers

question 28

Short Answer

Choose the one alternative that best completes the statement or answers the question.
-In California, each automobile license plate consists of a single digit followed by three letters, followed by three
digits. How many distinct license plates can be formed if there are no restrictions on the digits or letters?


Definitions:

Actual Rate

The actual interest rate or return that is earned or paid on an investment, loan, or other financial product.

Standard Rate

A predetermined or fixed cost rate that is applied uniformly across units, activities, or time for budgeting or billing purposes.

Unfavorable Cost Variance

A variance that occurs when the actual cost exceeds the standard cost.

Favorable Cost Variance

A variance that occurs when the actual cost is less than standard cost.

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