Data Marts and Data Warehouses Are Typically Organized by Business

question 15

True/False

Data marts and data warehouses are typically organized by business dimension or subject.

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Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, providing a more accurate comparison to actual results.

Standard Costing

An accounting method where predetermined costs are used for valuing inventory and cost of goods sold, facilitating variance analysis to control costs.

Variable Overhead

Costs that change in proportion to the level of manufacturing or service activities, such as materials and utilities.

Labour Efficiency Variance

It measures the effectiveness of labor usage by comparing the budgeted hours for a set level of production against the actual hours worked, indicating efficiency or inefficiency in labor use.