Concepts Are Ideas That Represent __________

question 136

Multiple Choice

Concepts are ideas that represent __________

• A) a class or category of objects, events, or activities.
• B) patterns of behavior.
• C) higher-order conditioning and secondary reinforcers.
• D) none of these.

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Definitions:

Static Budget

A fixed budget that remains unchanged over a period, regardless of variations in actual sales volume, production levels, or other operating factors.

Variable Budget

Variable Budget is a budget that adjusts based on changes in the volume of activity, allowing expenses to vary in direct proportion to changes in operational levels.

Favorable Variances

Differences between actual and budgeted or standard costs that result in better-than-expected financial performance.

Unfavorable Variances

Differences where actual costs are higher than standard or expected costs in budgeting.