If the Accounted Variance Is 24

question 24

Multiple Choice

If the accounted variance is 24.2%,what is the correlation between the two variables?

• A)24.6%
• B)49.2%
• C)50.4%
• D)75.4%

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Definitions:

Rent Expense

The cost incurred by a business for leasing a property or equipment for operational purposes.

Income Summary

An account used in the closing process that summarizes the results of all revenue and expense accounts.

Capital

The wealth, whether in money or other assets, owned or employed in business by an individual, firm, or corporation.

Withdrawal Account

An account from which funds can be withdrawn by the account holder; in the context of business partnerships, it refers to an account used by an owner or partner to draw funds from the business.