Indicate Whether Each of the Following Statements Is True or False

question 118

Short Answer

Indicate whether each of the following statements is true or false.
_____ a) A variance is a difference between an expected amount and a standard amount.
_____ b) When actual sales revenue exceeds the expected revenue, a company has a favorable sales variance.
_____ c) A cost variance is considered to be unfavorable when actual costs are less than standard costs.
_____ d) A company can calculate variances for both revenues and costs.
_____ e) Flexible budgets can be used for both planning and performance evaluation.

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Definitions:

NLRA Protection

Refers to the legal safeguards for employees' rights to organize and bargain collectively, established by the National Labor Relations Act.

Demographics

Statistical data relating to the population and particular groups within it, often used to identify market trends and economic policies.

Representation Election

A vote held among employees to determine whether they wish to be represented by a labor union in dealings with their employer.

No Solicitation Rule

Workplace rules implemented by employers to limit or prohibit solicitation (including union solicitation) during work hours and in work areas.