Mid Term Assessment

(a)   is a specialized branch of accounting that focuses on providing financial and non-financial information to management for planning, controlling, decision-making, and performance evaluation.

(a)   Analysis shows the difference between standard costs and actual costs.

CVP in "CVP Analysis" stands for (a)  

(a)   shows the excess of actual or budgeted sales over break-even sales.

(a)   is a budgeting technique where every expense must be justified from zero for each budget period.

• A written document containing the budget procedures, its timelines and formats is referred to as (a)   .

(a)   analysis determines the level of sales at which total cost equals total revenue (no profit, no loss).

(a)   is a predetermined or expected cost of producing a unit of product or service under normal and efficient conditions.

(a)   Variance occurs when actual results are better than standard expectations.

(a)   is the time period between purchase of raw materials and collection of cash from sales.