Identification -Romulus

question 177

Short Answer

Identification
-Romulus

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Definitions:

Revenue Variances

The difference between actual revenue and budgeted or expected revenue, analyzed to understand and manage financial performance.

Spending Variances

Spending variances are the differences between the actual amount spent and the budgeted or planned amount, often analyzed to control and manage expenses better.

Activity Variance

The difference between the budgeted cost for an activity level and the actual cost incurred, indicating deviations from planned performance.

Net Operating Income

A company's income after operating expenses have been deducted, but before income taxes and interest expenses are taken into account.