An executory contract is a contract the terms of which have been performed

Reiger Company had planned for operating income of $10 million in the master budget but actually achieved operating income of only $7 million.

a. The static-budget variance for operating income is $3 million favorable. b. The static-budget variance for operating income is $3 million unfavorable. c. The flexible-budget variance for operating income is $3 million favorable. d. The flexible-budget variance for operating income is $3 million unfavorable.

Private investors look to earn the return on their investments in a business through the increased value of the business, not through dividends and interest

Indicate whether the statement is true or false