The Difference Between Operating Income on a Flexible Budget and Actual

question 59

Multiple Choice

The difference between operating income on a flexible budget and actual operating income is called the:

• A) sales price variance.
• B) efficiency variance.
• C) standard variance.
• D) flexible budget variance.

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Definitions:

Sub-Prime Lending

Lending to individuals who have poor credit histories and are considered a higher risk to lenders.

Bank Charter

A legal document that authorizes the establishment and operation of a bank, setting out its rights and obligations.

Savings And Loan

A financial institution that specializes in accepting savings deposits and making mortgage and other loans.

FDIC

The Federal Deposit Insurance Corporation, a United States government agency that provides deposit insurance to depositors in US banks.