The Difference Between the Actual Revenues and Expenses and the Master

question 135

Multiple Choice

The difference between the actual revenues and expenses and the master budget is known as a

• A)capital budget variance.
• B)flexible budget variance.
• C)static budget variance.
• D)master budget variance.

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Definitions:

Test Statistic

A quantity derived from sample data that is used in a hypothesis test to make a decision about the null hypothesis.

Chi-Squared Table

A table that shows the critical values of the chi-square distribution, used to determine the significance of chi-square statistics.

Null Hypothesis

The assumption in hypothesis testing that posits no significant difference exists between specified populations.

Contingency Table

A table often used in statistics to display the frequency distribution of variables.