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Which of the following results in a favorable variance: a. Estimated revenues exceeds revenues b. Appropriations exceeds expenditures c. Expenditures exceeds appropriations d. Estimated revenues

Which of the following results in a favorable variance:

a.

Estimated revenues exceeds revenues

b.

Appropriations exceeds expenditures

c.

Expenditures exceeds appropriations

d.

Estimated revenues exceeds appropriations

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