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Question(s) / Instruction(s):

An activity variance is the difference between: A) a revenue or cost item in the static planning budget and the same item in the flexible budget. B) how much the revenue should have been, given the actual level of activity, and the actual revenue for the period. C) how much a cost should have been, given the actual level of activity, and the actual amount of the cost. D) none of the above.

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