A Difference Between the Static Budget Based on Planned Volume

question 140

Multiple Choice

A difference between the static budget based on planned volume and a flexible budget prepared at actual volume is called a:

• A) Flexible budget variance.
• B) Static budget variance.
• C) Production activity variance.
• D) Volume variance.

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Definitions:

Ellis

Refers to Albert Ellis, an American psychologist and psychotherapist known for developing Rational Emotive Behavior Therapy (REBT).

Punctuality

The state or quality of being on time.

Primary Appraisal

Primary Appraisal is the initial evaluation of how relevant and impactful a situation is to one's well-being, determining whether it is a threat, challenge, or harm.

Double Approach/Avoidance Conflict

A psychological conflict that occurs when a person faces a situation with both positive and negative aspects, leading to indecision.