Indicate Whether Each of the Following Statements Is True or False

question 105

Short Answer

Indicate whether each of the following statements is true or false.
_____ a) Managerial performance can be evaluated by comparing actual amounts with standard amounts.
_____ b) Differences between standard and actual amounts are called variances.
_____ c) When actual results are compared to a flexible budget based on actual volume of activity, any variances result from differences between standard and actual per unit amounts.
_____ d) If the actual sales price per unit is higher than the standard, a company's sales price variance is unfavorable.
_____ e) Differences between flexible budget costs and revenues and the actual results are volume variances.

---

Definitions:

Credible Funding

Financial support for a project or venture that is reliable and trustworthy, often scrutinized for legitimacy.

Ethical Standards

Guidelines or principles designed to direct behavior in a moral and responsible manner, often specific to a profession or organization.

Plagiarism

The practice of taking someone else's work or ideas and passing them off as one's own, without proper acknowledgment.

Citing Sources

The practice of giving proper credit to the original creators of works or ideas that one incorporates into their own work, typically through a structured format.