Match the Following Terms with the Items Below

question 66

Multiple Choice

Match the following terms with the items below:
-Static budget

• A)Difference between the actual amount and the flexible budget amount
• B)A budget that specifies costs for a range of activity
• C)A budget for a particular level of activity
• D)A report that compares actual with planned costs
• E)​Actual variable overhead − (SVOR × Actual hours)

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Definitions:

Tax Rate

The share of income that is required to be paid to the government by an individual or corporation as tax.

Mutually Exclusive Projects

Projects that, if accepted, preclude the acceptance of any other projects within the same category.

Managerial Decision

The process by which managers choose among alternative strategies or actions to solve organizational problems or to take advantage of opportunities.

NPV

Net Present Value, a method used in capital budgeting to determine the profitability of an investment or project by calculating the present value of expected cash flows versus initial cost.