The Following Is Extracted from a Budgetary Control Statement of a Manufacturing

question 13

Multiple Choice

The following is extracted from a budgetary control statement of a manufacturing firm:

Which of the following explanations best describe the possible reason(s) for the variance?

• A) Prices are lower than originally expected
• B) Efficient purchasing
• C) Prices are lower than originally expected and the purchasing was efficiently carried out
• D) Discounts were taken

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Definitions:

Sex Ratio

A demographic measure indicating the number of males for every 100 females in a population.

Life Expectancy

The average period that an individual is expected to live, based on statistical averages of age, national health standards, and other factors.

Age-Sex Pyramid

A demographic tool that represents the distribution of a population by age and sex, typically used to illustrate population growth, composition, and potential future changes.

Total Fertility Rate

The average number of children a woman is expected to have during her lifetime, given current birth rates.