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are used to coordinate activities between the top and bottom of an organization and are designed primarily for control of the organization.
Reality
The state of things as they actually exist, as opposed to an idealistic or notional idea of them.
Process
A series of actions or steps taken in order to achieve a particular end.
Favorable Variance
The difference between actual results and expected (budgeted) results that indicates more efficient or cost-effective performance.
Actual Cost
The actual expenses incurred in acquiring an asset or delivering a service, including all relevant expenditures without estimation.
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