Dividends Payable Is an Example of A(n)

question 144

Multiple Choice

Dividends Payable is an example of a(n)

• A)contingent liability.
• B)definitely determinable liability.
• C)estimated liability.
• D)long-term liability.

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Definitions:

Actual Variable Manuf. Overhead

The actual amount incurred in variable overhead costs during manufacturing, contrasting with the budgeted or standard costs.

Direct Materials

Materials in their basic form that are specifically identifiable with the manufacturing of certain products or services.

Total Variance

The overall difference between the budgeted or standard cost figures and the actual figures.

Variable Overhead

A redefinition of variable manufacturing overhead; variable overhead encompasses all variable expenses involved in the operation of a business that are not directly tied to a specific product unit.