A variance reort is a report that:

Variance Reporting and Sources of Finance

Assessment
•

Tony Jongue
•
Social Studies
•
KG - 12th Grade
•
1 plays
•
Medium
15 questions
Show all answers
1.
MULTIPLE CHOICE
20 sec • 5 pts
2.
MULTIPLE CHOICE
20 sec • 5 pts
Variance reporting helps with:
A. Understanding a business' cashflow position.
B. Understanding the business' operating trends.
C. Decision making.
3.
MULTIPLE CHOICE
20 sec • 5 pts
Those who benefit from variance reports are _____?
4.
MULTIPLE CHOICE
10 sec • 5 pts
When are variance reports prepared?
A. Typically, monthly.
B. When actual figures are available.
5.
MULTIPLE CHOICE
10 sec • 5 pts
True or False: A favourable variance is when actual
cash inflows (receipts) are higher than budgeted.
6.
MULTIPLE CHOICE
10 sec • 5 pts
True or False: An unfavourable variance is when actual
cash outflows (payments) are lower than budgeted.
7.
MULTIPLE CHOICE
20 sec • 5 pts
A business has budgeted $6000 for 'receipt from debtors' for the month of July.
If the actual figure was 9000, the variance was:
8.
MULTIPLE CHOICE
20 sec • 5 pts
For June, the business budgeted $25000 for a vehicle purchase but ended up paying $33500. The variance was:
9.
MULTIPLE CHOICE
20 sec • 5 pts
True or False: Sources of finance is just another way of saying 'where the business obtains money to fund its business activity'.
10.
MULTIPLE CHOICE
30 sec • 5 pts
When a business has zero cash reserves, they are unable to:
A. Pay their expenses.
B. Buy stock and pay creditors.
C. Expand the business.
D. Pay their workers.
Explore all questions with a free account
Popular Resources on Quizizz
17 questions
CAASPP Math Practice 3rd

•
3rd Grade
15 questions
Grade 3 Simulation Assessment 1

•
3rd Grade
20 questions
math review

•
4th Grade
19 questions
HCS Grade 5 Simulation Assessment_1 2425sy

•
5th Grade
16 questions
Grade 3 Simulation Assessment 2

•
3rd Grade
21 questions
6th Grade Math CAASPP Practice

•
6th Grade
13 questions
Cinco de mayo

•
6th - 8th Grade
20 questions
Reading Comprehension

•
5th Grade
Discover more resources for Social Studies
10 questions
Cinco de Mayo

•
2nd - 3rd Grade
15 questions
goods and services

•
1st Grade
30 questions
AP Psychology Unit 5: Mental and Physical Health

•
12th Grade
32 questions
AP Psychology Unit 1: Biological Bases of Behavior

•
12th Grade
15 questions
Cinco de Mayo Quiz

•
4th Grade
15 questions
VA Studies SOL Review: Analyzing Maps

•
4th Grade
40 questions
Civics EOC Boot Camp

•
7th Grade
48 questions
Civics EOC Review 2025

•
7th Grade