In Terms of Variances,what Is the Term for the Standard

question 34

Multiple Choice

In terms of variances,what is the term for the standard plus the allowable deviation?

• A)upper control limit
• B)standard price
• C)standard quantity
• D)total budget variance

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Definitions:

Discounted

The practice of reducing the selling price of goods or services, often to encourage sales.

Discount Method

A financial strategy where the interest and financing charges are calculated at the time of the sale and deducted from the principal before the loan is disbursed.

Actual Interest Rate

The real rate of interest earned or paid on an investment, loan, or savings, taking into account compounding and fees.

Cash Discounts

Reductions in the price of goods or services, offered to customers as an incentive for early payment.