When would a variance be labeled as favorable? Select one: A. When expected income is less than actual income B. When actual costs are less than standard costs C.When expected revenues are less than actual revenues D. All of the above are correct answers Stephanie's responsibility report includes the salary and benefits of her secretary. Although Stephanie prepares a performance evaluation for the secretary each year, Stephanie's superior determines how much the secretary will be paid. This example is an illustration of the fact that: Select one: A. Control may be shared. B. Managers are never held responsible for items over which they have no control. C. Responsibility reporting systems are generally perfect. D. All of these are correct answers. All other things being equal, a large unanticipated reduction in the property taxes on a company's factory building would most likely cause: Select one: OA. A favorable flexible budget spending variance. O B. A favorable volume variance. C. An unfavorable volume variance O D. An unfavorable flexible budget revenue variance. The Telemarketing Department of a residential remodeling company would most likely be evaluated as a: Select one: A. revenue center B. investment center O C. cost center O D. profit center Which of the following items will appear on a cash budget? Select one: O A. Depreciation expense B. Bad debt expense C. Expected credit sales D. Expected cash collections