When It Comes to Variances

question 91

Multiple Choice

When it comes to variances,

• A)actual costs that vary from standard costs always indicate efficiencies.
• B)ideal standards will generally result in favourable variances for the company.
• C)a variance is the difference between total actual costs and total standard costs.
• D)if actual costs are less than standard costs, the variance is unfavourable.

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Definitions:

Oxygen

A chemical element vital for respiration in living organisms and necessary for combustion, represented by the symbol O.

Tissues

Collections of similar cells that perform specific functions within an organism, such as muscle tissue or nervous tissue.

Blood

A vital liquid in humans and animals that delivers necessary substances such as nutrients and oxygen to the cells and transports metabolic waste products away.

Type Influenza

A classification of the influenza virus, characterized by variations in the protein composition on the surface of the virus, affecting the severity and spread of flu outbreaks.