The Difference Between Budgeted Amounts and an Entity's Actual Results

question 29

Multiple Choice

The difference between budgeted amounts and an entity's actual results is called a:

• A) control tool.
• B) budget error.
• C) variance.
• D) excess.

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Definitions:

Fixed-Interval Schedule

In operant conditioning, a reinforcement schedule that reinforces a response only after a specified time has elapsed.

Specified Time Period

A distinct duration or length of time that has been determined or requested for a particular purpose or event.

Response Is Reinforced

A process in learning where the likelihood of a behavior's occurrence is increased by following it with a positive outcome or reward.

Monetary Winnings

Funds or gains received as a result of winning a game, competition, bet, or lawsuit.