Examlex
Which of the following entity characteristics are generally key drivers for small business owners in deciding which entity to choose?
Activity Variance
The difference between the budgeted costs based on expected activity levels and the actual costs incurred, usually used in flexible budgeting.
Net Operating Income
The income from a company's operations after deducting operating expenses, excluding revenue and expenses from non-operational activities.
Budgeting
The process of creating a plan to spend your money, outlining expected revenues and expenses.
Activity Variance
The difference between planned levels of activity and actual levels, often analyzed to improve budgeting and operational efficiency.
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