During the financial crisis of 2007-2008, goldman sachs, morgan stanley, and other financial firms with heavy exposure to the mortgage-related problems rushed to become bank holding companies in order to a. obtain bailout money from congress. b. follow the order of the u. s. treasury. c. acquire funds from the general public. d. get massive loans from the fed.

Kirnon clinic uses client-visits as its measure of activity. during july, the clinic budgeted for 3,250 client-visits, but its actual level of activity was 3,160 client-visits. the clinic has provided the following data concerning the formulas to be used in its budgeting: fixed element per month variable element per client-visitrevenue - $ 39.10personnel expenses $ 35,100 $ 10.30medical supplies 1,100 7.10occupancy expenses 8,100 1.10administrative expenses 5,100 0.20total expenses $ 49,400 $ 18.70the activity variance for net operating income in july would be closest to: