What Occurs When Two Entities Can Be Related to Each

question 23

Multiple Choice

What occurs when two entities can be related to each other in many instances?

• A)One-to-one relationship
• B)One-to-many relationship
• C)Many-to-many relationship
• D)Composite entity

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Definitions:

Spending Variance

The difference between the budgeted or planned amount of expense and the actual amount spent.

Variable Overhead Spending Variance

The difference between the actual costs incurred for variable overheads and the expected costs of variable overheads based on standard cost.

Fixed Overhead Spending Variance

This metric measures the difference between the actual fixed overhead costs incurred and the budgeted (or standard) fixed overhead costs.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected variable overhead based on standard cost for the actual level of activity.