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Explain the Difference Between Response Time and Turnaround Time

question 12

Essay

Explain the difference between response time and turnaround time. These times are both used to measure the effectiveness of scheduling schemes.


Definitions:

Performance Reports

Documents that compare actual business results to planned or budgeted figures to evaluate performance.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels, used to compare actual performance against what should have occurred at the actual level of activity.

Static Budget

A fixed budget that does not change with the level of activity or production volume, often used for planning purposes.

Level Of Activity

A measurement of the volume of production or operations within a business, which can affect various costs and efficiency metrics.

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