Define variance. What is the difference between a favorable and an unfavorable variance?
What will be an ideal response
A variance is the difference between an actual amount and the budgeted amount. A variance is favorable if it increases operating income. For example, if actual revenue is greater than budgeted revenue or if actual expense is less than budgeted expense, then the variance is favorable. If the variance decreases operating income, the variance is unfavorable. For example, if actual revenue is less than budgeted revenue or if actual expense is greater than budgeted expense, the variance is unfavorable.
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The best description of the boundary lines for a property found in a subdivision would be found on:
A. a plat map B. the deed C. the mortgage D. the purchase and sale agreement
Felicity Industries is selling 2 million shares of stock in an auction IPO. At the end of the bidding period it has received the bids shown above. Which of the following is closest to the price at which the shares will be offered?
Price ($) Number of Shares Bid 5.00 600,000 5.25 700,000 5.50 850,000 5.75 775,000 6.00 700,000 6.25 300,000 6.50 225,000 A) $5.00 B) $5.25 C) $5.75 D) $6.00