The Difference Between Actual Quantity of Input Used and the Standard

question 176

Multiple Choice

The difference between actual quantity of input used and the standard quantity of input used results in a:

• A) Quantity variance.
• B) Standard variance.
• C) Budget variance.
• D) Controllable variance.
• E) Price variance.

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Definitions:

Stockholders

Individuals or entities that own shares in a corporation, giving them rights to dividends and a say in company affairs.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing ownership interest.

Paid-In Capital

The total amount of cash and other assets that shareholders have given a company in exchange for stock.

Retained Earnings

The accumulated portion of net income not distributed to shareholders and reinvested in the business.