Rebecca Wilson Budgeted $395 for a New Wardrobe in June

question 95

Multiple Choice

Rebecca Wilson budgeted $395 for a new wardrobe in June. She actually spent $425. What is her budget variance?

• A) $25 deficit
• B) $30 deficit
• C) $425 deficit
• D) $25 surplus
• E) $30 surplus

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Definitions:

Condition

A stipulation or requirement in a contract that must be met for the contract to be fully enforceable.

Anticipatory Repudiation

A contractual condition where one party indicates they will not fulfill their contractual duties before the time of performance is due.

Unforeseeable Circumstances

Events that could not have been predicted and therefore are out of the control of the contracting parties, often impacting contracts.

Doctrine

A belief, principle, or policy held by a person or organization, especially one taught by a church or political party.