The Sales Volume Variance Is the Difference Between

question 81

Multiple Choice

The sales volume variance is the difference between

• A)the static budget and the flexible budget.
• B)the flexible budget and actual results.
• C)the actual quantity and budgeted quantity.
• D)the actual price and the standard price.

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Definitions:

45-Degree Line

A line in economics graphs that depict equilibrium points where the value of one variable equals the value of another; commonly used in Keynesian cross diagrams to show where aggregate expenditure equals aggregate output.

Saving

The portion of income not spent on current consumption, but rather set aside for future use or investment.

Trillion

A numerical value represented as 1,000,000,000,000 or 10^12, commonly used to quantify large sums, such as government budgets and the global economy.

APC

The Average Propensity to Consume calculates the portion of income that families allocate towards consumption as opposed to savings.