When Is a Variance Considered to Be 'Material

question 62

Multiple Choice

When is a variance considered to be 'material'?

• A) When it is large compared to the actual cost
• B) When it is infrequent
• C) When it is unfavorable
• D) When it could have been controlled more effectively

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Definitions:

Formula

An expression or equation that calculates values in a spreadsheet or mathematical setting.

Circular Reference

A situation in which a formula or calculation in a system refers back to itself directly or indirectly, potentially causing errors or infinite loops.

Reference

An indication to a source of information or data, often used in research, writing, or programming to point to external details or evidence.

Typing

The action or process of writing by pressing keys on a keyboard.