When Analyzing Period End Variance Reports, If a Variance Amount

question 21

Multiple Choice

When analyzing period end variance reports, if a variance amount is small the manager should

• A)consider the variance within normal terms and ignore it for that period.
• B)combine all such small variances and if they show a larger variance, investigate them then.
• C)consider investigating the variance as there may be undetected swings in the intervening period that require investigation.
• D)focus his or her attention on more material variances.

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Definitions:

Effective Care

Healthcare services that are provided in a manner that is timely, efficient, and tailored to meet the needs of patients, leading to positive outcomes.

Team Communication

The process of exchanging information and ideas among members of a group to achieve a common goal, especially critical in healthcare settings.

Sensory Memory

A type of memory that holds incoming sensory information for a very short period of time, usually for only a few seconds, before it is either forgotten or transferred to short-term memory.

Short-Term Memory

Limited-capacity memory system in which information is usually retained for only as long as 30 seconds unless strategies are used to retain it longer.