Services Are Said to Be Less Variable Than Products

question 9

True/False

Services are said to be less variable than products.

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Definitions:

Spending Variance

The difference between the actual amount spent and the budgeted or planned amount in a given period.

Planning Budget

A budget prepared for a specific level of activity, used for planning and controlling costs and resources in advance.

Travel Expenses

Costs incurred by an employee or a business when travelling for business purposes, which can include accommodations, meals, transportation, and other expenses.

Spending Variance

The difference between the actual amount spent and the budgeted or expected amount, used in budgeting and financial planning.