Examlex
What is outsourcing? Identify two outsourcing arrangements.Identify two reasons for outsourcing.
Favorable
A term used in budgeting and finance to indicate results that are better than expected, such as lower costs or higher revenues.
Unfavorable
A term used to describe outcomes or variances that negatively impact financial performance or expectations.
Unfavorable Variances
Occurrences when actual costs exceed budgeted or expected costs, indicating a potential need for management action to address inefficiencies.
Favorable Variances
Differences between actual and budgeted amounts that result in more profit or less cost than originally planned.
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