The Difference Between the Amount Budgeted and the Actual Amount

question 107

Multiple Choice

The difference between the amount budgeted and the actual amount is called a

• A)financial plan.
• B)current liability.
• C)change in net worth.
• D)budget variance.
• E)variable living expense.

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Definitions:

Forecast Cell

A specific value or set of values predicted for a future time point in the context of forecasting models.

Column Chart

A graphical representation of data using vertical bars to show the value of each category or group on the horizontal axis.

Cumulative Profit

The sum of all profits and losses up to a specific point in time.

Probability

The likelihood or chance of an event occurring, often quantified as a number between 0 and 1.