Which Form of Property Has No Physical Form

question 31

Multiple Choice

Which form of property has no physical form?

• A)Financial
• B)Real
• C)Equipment
• D)Intellectual

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Definitions:

Direct Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, indicating discrepancies in workforce expenses.

Direct Labor Efficiency Variance

A measure of the difference between the actual hours worked and the standard hours expected for the production accomplished.

Favorable

A term used in budgeting and accounting to describe a financial result or variance that is better than expected or budgeted.

Flexible Budget

A budget that adjusts or scales according to changes in the volume of activity, revenue, or other factors.