Flexible Budget Variance Is the Difference Between The

question 162

Multiple Choice

Flexible budget variance is the difference between the:

• A)actual results and the expected results in the flexible budget for the actual units sold.
• B)expected results in the flexible budget for the units expected to be sold and the static budget.
• C)flexible budget and actual amounts due to differences in volumes.
• D)flexible budget and static budget due to differences in fixed costs.

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Definitions:

Ethical Issue

A situation or problem requiring individuals or organizations to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Actions Taken

The measures or steps implemented in response to a situation or problem.

Responsibility

A tenet of ethics in which you accept the consequences of your decisions and actions.

Sarbanes-Oxley Act

The Sarbanes-Oxley Act (SOX) is a law passed by U.S. Congress in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to securities laws, including those regarding financial statements.