The Primary Reason for Climatic Differences from One Part of the World

question 24

Multiple Choice

The primary reason for climatic differences from one part of the world to another is

• A)differences in atmospheric pressures.
• B)differential absorption of solar energy.
• C)prevailing wind currents.
• D)differences in humidity.
• E)variation in cloud cover.

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Definitions:

Materials Quantity Variance

The deviation found by multiplying the standard cost per unit with the difference in the actual and expected standard volumes of materials used in the production process.

Materials Price Variance

A financial measure used to determine the variation in the cost of raw materials against the pre-defined standard cost.

Raw Materials Inventory

The stock of basic materials that are to be used in production but have not yet been processed.

Cash Account

An account recording the transactions involving cash inflows and outflows.