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By pairing the ringing of a bell with the presentation of meat,Pavlov trained dogs to salivate to the sound of a bell even when no meat was presented.In this experiment,salivation to the meat was the _______.
Measures Performance
The process of evaluating the efficiency and effectiveness of actions or operations, typically through quantitative metrics.
Flexible Budget
A budget that is stated as a function of some volume measure, such as units produced. Flexible budgets adjust for changes in volume.
Master Budget
A document that integrates all the estimates from the different departments to establish guidelines and benchmarks for the whole organization.
Favorable Variance
A financial term indicating that actual spending was less than budgeted amounts, or revenue was higher than expected.
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