In accounting, the possibility of deviation of actual amount from an expected amount is classified as ___________?

Related Mcqs:

1. An accounting approach, in which the expected benefits exceed the expected cost is classified as ___________?

   A. benefit approach B. cost approach C. cost-benefit approach D. accounting approach...

2. In a normal accounting period, an allocated amount of indirect cost is $700 and an actual amount is $800, then this can be classified as ____________?

   A. under allocated indirect cost B. over allocated direct cost C. over allocated budget D. under allocated budget...

3. In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as __________?

   A. over allocated budget B. under allocated budget C. under allocated indirect cost D. over allocated direct cost...

4. The budget which calculates the expected revenues and expected costs, based on the actual output quantity is named as __________?

   A. flexible budget B. fixed budget C. variable budget D. multiplied budget...

5. Of the cost allocation base, the difference between actual and budgeted variable overhead cost multiplied by actual quantity for actual output is classified as ____________?

   A. variable overhead spending variance B. fixed overhead spending variance C. constant spending variance D. potential spending variance...

6. In actual costing, an actual quantity of used inputs are multiplied with actual prices to calculate: ___________?

   A. fixed direct manufacturing cost B. variable direct manufacturing cost C. fixed indirect manufacturing cost D. variable indirect manufacturing cost...

7. The difference between actual result and corresponding amount of flexible budget, on the basis of actual level of output is classified as __________?

   A. sales mix variance B. sales volume variance C. flexible budget variance D. static budget variance...

8. The difference between actual result and corresponding amount of flexible budget, on the basis of actual level of output is classified as ____________?

   A. sales mix variance B. sales volume variance C. flexible budget variance D. static budget variance...

9. An accounting which records and measures the business transactions and is followed by generally accepted accounting principles is classified as ____________?

   A. external accounting B. internal accounting C. business accounting D. financial accounting...

10. In process costing method, when the work done in current accounting period, and beginning inventory before current accounting period, is classified as _________?

    A. partial inventory costing method B. current period inventory method C. Last-in, first-out method D. First-in, first-out method...