The Flexible-Budget Variance Is the Difference Between an Actual Result

question 39

True/False

The flexible-budget variance is the difference between an actual result and the flexible-budget amount based on the level of output actually achieved in the budget period.

---

Definitions:

Governmental Policy

The strategies, plans, and actions undertaken by a government to achieve its objectives.

Societal Values

The commonly held standards, ethics, and moral principles that govern behavior and actions within a society.

Equitable Principles

Legal rules derived from fairness, morality, and justice, rather than those based strictly on laws or statutes.

Specific Performances

A legal remedy where a court orders a party to perform their contractual duties, rather than seeking monetary damages.