Events That Could Have a Positive Impact on Organizational Objectives

question 148

Multiple Choice

Events that could have a positive impact on organizational objectives:

• A)controls
• B)fraud
• C)opportunities
• D)profit

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Definitions:

Planning Budget

A budget prepared for a future period that outlines expected revenues, expenses, and other financial activities to guide decision-making.

Equipment Depreciation

This refers to the accounting process of allocating the cost of physical assets over their useful lives to account for the loss in value.

Spending Variance

The difference between the actual expenditure and the budgeted amount.

Machine-Hours

A measure used to allocate manufacturing overhead costs to products based on the number of hours machines are used in the production process.