Which of the Following Statements Is Incorrect?
A) the Cost

question 43

Multiple Choice

$$\begin{array} { l r c } \text { Item to Classify } & \text { Starddard } & \text { Actual } \\\text { Sales Reveruse } & 820,000 & 835,000 \\\text { Wages } & 125,000 & 128,000 \\\text { S\&A Expenses } & 400,000 & 408,000 \\\text { Cost of Goods Sold } & 608,000 & 600,000\end{array}$$ Which of the following statements is incorrect?

• A) The cost of goods sold variance is favorable.
• B) The S&A expense variance is favorable.
• C) The sales revenue variance is favorable.
• D) The wage expense variance is unfavorable.

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Definitions:

Venture

A business enterprise involving risk in expectation of gain.

Co-Owner

An individual or entity that shares ownership of an asset, property, or business with one or more parties.

Venture Capitalists

Investors who provide capital to startups and small businesses with long-term growth potential in exchange for equity, or partial ownership of the company.

Angel Investors

Wealthy individuals who provide capital for start-ups or entrepreneurs in exchange for ownership equity or convertible debt.