_________________ Are Used to Ensure That Budgeted Costs Can Be

question 63

Short Answer

_________________ are used to ensure that budgeted costs can be realistically compared with costs for actual levels of activity.

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Definitions:

Agents

Individuals or entities authorized to act on behalf of others in transactions or negotiations.

Employees

Individuals who work for another person or organization in return for compensation.

Expressed Agency

An agency created in a written or oral agreement. Also called agency by agreement.

Principal

The main party to a transaction, such as a buyer or seller in a contract, or an individual who empowers another (agent) to act on their behalf.