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Functionalism asserts that
Planning Budget
An initial budget prepared based on estimates of what revenues and costs should be before a period begins, often used for setting goals and objectives.
Net Operating Income
The income earned by a company from its main business activities before subtracting interest and tax expenses.
Revenue and Spending Variance
The difference between the actual and budgeted figures for both revenue and expenses, indicating a company's financial performance.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity levels, allowing for better performance evaluation.
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