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What are the three characteristics of properly set goals?
Price Variance
The difference between the actual price paid for a good or service and its expected or budgeted price.
Quantity
The amount or number of a material or product.
Budget Performance Report
A report that compares budgeted amounts to actual amounts for revenues, expenses, and other financial parameters to measure the financial performance of a company.
Budgeted Amounts
Estimated financial figures used for planning purposes, outlining the expected revenues, expenses, and other financial transactions for a future period.
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