1 point What is a favorable variance? Actual Revenue Budgeted Expense Actual Revenue > Budgeted Revenue None of the choices are correct 1 point The flexible budget is based on number of units sold? None of the choices are correct Partial Actual Flexible 1 point What is an unfavorable variance? None of the choices are correct Actual expense > Budgeted expense Actual expense Budgeted revenue 1 point What is a static budget? Prepared for various level of sales volume within a relevant range. None of the choices are correct. Prepared for one level of sales. Difference between an actual amount and a budgeted amount. 1 point The static budget variance includes both of which options? Efficiency varaince Sales volume variance Cost variance Flexible budget variance 1 point What is NOT an advantage of decentralization? Frees top management time Provides training Supports use of expert knowledge Duplication of costs What is NOT a responsibility center? Revenue Cost Income Profit 1 point What is NOT a goal of performance evaluation systems? Communicating expectations Operational performance measures Motivating segment managers Providing feedback Who is at the top of the organization chart in Smart Touch Learning? CEO ClO CFO COO What is NOT a perspective from the balanced scorecard? External business Customer Learning and growth Financial