_________Are the Skills and Abilities in Value Creation Activities That

question 70

Multiple Choice

_________are the skills and abilities in value creation activities that allow a company to achieve superior efficiency, quality, innovation, or customer responses.

• A)Core competences
• B)Ceremonies
• C)Rites of enhancement
• D)Environmental contingencies

---

Definitions:

Unfavourable Variances

Differences between actual costs and standard or expected costs that negatively impact the financial performance of an organization.

Favourable Variances

Differences between actual and budgeted financial performance that are beneficial to the company, such as lower expenses or higher revenues than planned.

Accounting Recording System

An Accounting Recording System is a structured process for capturing, recording, and summarizing financial transactions, facilitating accurate financial reporting and analysis.

Standard Costing

An accounting method that uses standard costs for direct materials, direct labor, and manufacturing overhead to value inventory and measure variance.