1. Differential revenue is the difference in ______ between two alternatives

A) Median Revenue B) Average Revenue

C) Total Revenue D) Marginal Revenue

2. An Example of a favorable variance is ______

A) Actual Expenses are less than expected expenses

B) Expected labor costs are less than actual labor costs

C) Actual revenues are less than expected revenues

D) Actual material prices are greater than expected material prices

3. A budget prepared for different levels of activity is called a ___

A) Operating Budget B. Static Budget

C) Flexible Budget D) Rolling budget

4. A budget prepared for one expected level of activity is called a

A) Flexible budget B) Variable Budget

C) Rolling Budget D) Static Budget