Financial accounting encompasses the ________________________ covering the conveyance of monetary information to describe a business or other organization.

A flexible - budget variance is $800 favorable for unit -related costs. That indicates that

a. costs were $800 more than the master budget. b. costs were $800 less than for the planned level of activity. c. costs were $800 more than standard for the achieved level of activity. d. costs were $800 less than standard for the achieved level of activity.

Limited liability of shareholders is one of the advantages of incorporation. Generally, a shareholder is personally liable

A. For torts of the corporation although (s)he did not participate in them. B. For crimes of the corporation although (s)he did not participate in them. C. Only for his or her investment in the corporation. D. For the corporation's debts.