This Text Is Written with an Attempt to Be Bias

question 15

True/False

This text is written with an attempt to be bias free. Having a bias or prejudice about some aspect of family life is something each of us can avoid.

---

Definitions:

Favorable Variances

Differences between actual and budgeted or standard costs that result in better-than-expected financial performance.

Unfavorable Variances

Differences where actual costs are higher than standard or expected costs in budgeting.

Cost Variance

The difference between the estimated cost of a project or production and the actual cost incurred.

Standard Cost

A predetermined cost of manufacturing, established based on historical data, for the purpose of budgeting and performance evaluation.