When an Error Occurs, an Exception Is

question 20

Multiple Choice

When an error occurs, an exception is

• A) created.
• B) thrown.
• C) passed.
• D) ignored.
• E) None of the above

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Definitions:

Material Quantity

The amount of raw materials or supplies used in the production of goods, often monitored to control costs and ensure efficient resource use.

Labour Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, based on the hours worked.

Favourable Variance

A financial term indicating that actual costs were lower than budgeted costs, or actual revenues were higher than expected.

Variances

The differences between planned financial outcomes and the actual results, used in budgeting and accounting to track performance and plan future activities.