Kirnon Clinic Uses Client-Visits as Its Measure of Activity

question 154

Multiple Choice

Kirnon Clinic uses client-visits as its measure of activity. During July, the clinic budgeted for 2,000 client-visits, but its actual level of activity was 2,010 client-visits. The clinic has provided the following data concerning the formulas to be used in its budgeting:

-The activity variance for personnel expenses in July would be closest to:

• A) $901 F
• B) $901 U
• C) $121 F
• D) $121 U

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Definitions:

Trading Costs

Expenses associated with the buying and selling of securities, including commissions, spreads, and slippage.

Market Depth

The ability of a market to sustain relatively large market orders without impacting the price of the security.

Style Portfolios

Investment portfolios constructed to reflect specific investment strategies or philosophies, such as growth, value, or income investing.

GDP Growth

The increase in the market value of goods and services produced by an economy over a certain period, often used as an indicator of economic health.