Which of the Following Is the Correct Way to Show

question 55

Multiple Choice

Which of the following is the correct way to show the effects of a newly imposed import quota?

• A)shift the demand for loanable funds left,the supply of dollars in the market for foreign- currency exchange left,and the demand for dollars in the market for foreign-currency exchange right
• B)shift the demand for loanable funds left,the supply of dollars in the market for foreign- currency exchange right,and the demand for dollars in the market for foreign-currency exchange left
• C)shift the demand for dollars in the market for foreign-currency exchange to the right
• D)shift the supply of dollars in the market for foreign-currency exchange to the left

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Definitions:

Efficiency Variances

Variances that occur when the actual performance deviates from the expected standards, often analyzed in terms of time, cost, and materials.

Budget Variance

The difference between budgeted figures for revenue and expenditure, and the actual amounts realized.

Budgeted Fixed Overhead

The estimated constant costs for a period that do not vary with the level of production or sales, such as rent, salaries, and insurance.

Flexible Budget

A budget that adjusts to changes in the volume of activity, allowing for more accurate budgeting and financial control.