Which One the Following Is a Variable That Takes on Values

question 98

Multiple Choice

Which one the following is a variable that takes on values of 1, 2, 3, … for each period in sequence?

• A) Dummy variable.
• B) Price change index.
• C) Trend variable.
• D) Dependent variable.
• E) Independent variable.

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Definitions:

Variance Reports

Financial documents that compare actual financial results to planned or budgeted amounts, highlighting discrepancies.

Budgeted Expenditure

Planned spending for a specific period as outlined in a budget, which serves as a financial plan and guideline for managing expenses.

Actual Expenditure

The real amount of money spent on goods, services, and other expenses during a specific period.

Variable Overhead Variances

The difference between the actual variable overhead incurred and the standard cost assigned to production, indicating efficiency or inefficiency.