Match Each of the Following Terms with the Appropriate Definitions

question 164

Multiple Choice

Match each of the following terms with the appropriate definitions.

-The insufficient capacity of plant assets to meet the company's productive demands.

• A)Obsolescence
• B)Amortization
• C)Depletion
• D)Salvage value
• E)Book value
• F)Land improvements
• G)Copyright
• H)Inadequacy
• I)Patent

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Definitions:

Spending Variance

The difference between the actual amount spent and the budgeted amount for a period, which can be either favorable or unfavorable.

Budgeting

The process of creating a plan to spend your money, outlining how much money will be earned and how it will be spent.

Static Planning Budget

A budget based on a fixed level of activity, not adjusted for actual activity levels.

Customers Served

The number of individual customers or clients that a business has provided goods or services to during a specific period.