Which Variance Compares Actual Inputs Used at Actual and Standard

question 65

Multiple Choice

Which variance compares actual inputs used at actual and standard prices?

• A) Price variance
• B) Quantity variance
• C) Usage variance
• D) None of these are correct

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Definitions:

Payor Bank

The bank on which a check is drawn and that is responsible for paying the amount of the check to the holder.

Collection Process

The steps taken by creditors or agencies to recover debts owed by individuals or businesses, often involving contacting the debtor, negotiating payment plans, and possibly legal action.

Demand Instrument

A financial document or instrument that requires payment of a particular sum of money immediately or on demand by the entitled party.

Certificate Of Deposit

A savings certificate with a fixed maturity date and specified fixed interest rate, issued by a bank to a depositor.