A Budget Performance Report Is Being Prepared and Will Be

question 60

Multiple Choice

A budget performance report is being prepared and will be sent to the appropriate segment manager. Which term best describes the type of costs and income that should be included in this report?

• A) Unfavourable
• B) Administrative
• C) Controllable
• D) Fixed

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Definitions:

Breach Of Contract

The violation of any agreed-upon terms or conditions in a binding contract, which can lead to legal consequences for the party in breach.

Designated Contract

A specific agreement set apart for a unique purpose or recognized formally in a particular context.

Anticipatory Breach

Repudiation of a contract before performance is due.

Void Ab Initio

A term referring to agreements or contracts that are considered null from the start due to illegality or inability to enforce.