Decide Whether the Selection Described Is a Combination or a Permutation

question 99

Multiple Choice

Decide whether the selection described is a combination or a permutation.
Three prizes are given to the winners of a race.

• A)cannot be determined
• B)combination
• C)permutation

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Definitions:

Unfavorable

A term used to describe variances or differences that negatively impact profitability or efficiency, often indicating higher costs or lower revenue than expected.

Favorable

A term used in accounting and finance to describe situations where actual costs are less than budgeted or expected costs, or revenue is higher than anticipated.

Manufacturing Overhead Volume Variance

The difference between the budgeted volume of manufacturing overhead and the actual volume incurred, used for budgeting and cost control.

Overapplied

A situation in cost accounting where the allocated manufacturing overhead costs exceed the actual overhead expenses incurred.