Accounts payable - <u>Accurately tracking what's owed to suppliers, ensuring payments are properly approved and processing </u><u>payments</u><u>.</u>
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Accounts receivable - <u>The balance of money due to a firm for goods or services delivered or used but not yet paid for by customers.</u>
 
        
             
        
        
        
An externality is the benefit enjoyed by a third party that is not directly involved in the production or consumption of a good or service.
Externalities can either be positive or negative;
Positive externalities occur when there is a positive gain on both the private level and social level.
Negative externalities  occur when the social costs outweigh the private costs. For example in cases of pollution where an industry may  decide to cut costs and increase profits by implementing new operations that are more harmful to the environment.
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Answer:
a. 24,000 unfavorable
Explanation:
Quantity Variance = Standard Price ( Actual Quantity - Standard Quantity Allowed)
              = $12 per pound  (8 lbs.*16,500 lbs-8 lbs.*16,000)
= $ 12 (132,000 lbs-130,000 lbs) = $ 12 (2000)= 24,000 unfavorable 
It is unfavorable because the actual quantity used is more than the standard quantity allowed. 
Quantity variance is obtained by multiplying the standard price with the difference in the actual quantity used and the standard quantity allowed.