From a budgeting view, which of the following statements is not true concerning variances?
A)
A favorable expense variance means the budgeted amount was more than actual.
B)
Cumulative variance = current month's variance + variances of previous months.
C)
Ideally, cumulative variances for the year will equal zero.
D)
Ideally, cumulative variances for the year should have a positive value.
D
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If shares of stock are sold or exchanged for more than par value, the excess is called
a. a discount. b. a gain. c. a premium. d. earnings.
Long-term, secured debt securities are called ________.
A. indentures B. debentures C. notes D. bonds
What is the theory behind the incremental productivity method?
A. tallying the average number of sales calls needed to close each individual sale B. matching the sales force size to a given geographic area C. comparing the additional cost of one new salesperson to expected additional sales revenue D. estimating the number of products sold in relation to the size of the sales territory E. estimating the effect of additional sales on the motivation of the salesperson
In preparing a company's statement of cash flows for the most recent year, the following information is available: Loss on the sale of equipment$15,500?Purchase of equipment 160,000?Proceeds from the sale of equipment 141,000?Repayment of outstanding bonds 94,500?Purchase of treasury stock 69,500?Issuance of common stock 103,500?Purchase of land 130,000?Increase in accounts receivable during the year 50,500?Decrease in accounts payable during the year 82,500?Payment of cash dividends 42,500?Net cash flows from investing activities for the year were:
A. $243,500 of net cash provided. B. $133,500 of net cash used. C. $149,000 of net cash provided. D. $149,000 of net cash used. E. $282,000 of net cash used.