Variances

question 84

Multiple Choice

Variances:

• A)Are only investigated if they are unfavorable
• B)Are always investigated
• C)Will always result in the improvement of the logistics function
• D)Understanding the cause of both favorable and unfavorable variances can be important

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Definitions:

Voidable Title

A legal status indicating that a title to ownership can be rendered void or cancelled due to certain defects or fraud, but remains valid until annulled.

Bad Check

A check that cannot be processed because the account on which it is drawn does not have sufficient funds.

Seller Transfers

The act of a seller handing over the rights, responsibilities, and ownership of products or property to the buyer.

Merchant

An individual or company engaged in the business of selling goods or services in the marketplace.