A Set of ________________ Contains a Written or Electronic Description

question 89

Multiple Choice

A set of ________________ contains a written or electronic description of what a firm wants to buy.

• A) requirements
• B) purchasing specifications
• C) blueprints
• D) quality certifications
• E) request forms

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Definitions:

Activity Variance

Activity variance is the difference between the expected level of activity used to estimate fixed costs and the actual level of activity experienced.

Administrative Expenses

Overhead or general expenses related to the administration of a business, including office salaries, utilities, and legal costs.

Planning Budget

A budget prepared for a planned level of activity; it is used for planning and control purposes within an organization.

Administrative Expenses

Expenses that are not directly related to the production of goods or services, including salaries of administrative staff, rent, and utilities.