The Pattern of Deviations in Cost and Usage Used for Exception

question 49

Multiple Choice

The pattern of deviations in cost and usage used for exception reporting to management is called __________.

• A)simulations
• B)assumptions
• C)variances
• D)summaries

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Definitions:

Socially Optimum

A condition or state in which resources are allocated in the most efficient manner from the perspective of the society overall, maximizing social welfare.

Public Park

An area of land, usually owned and maintained by government agencies, designated for public use and enjoyment, often featuring natural or landscaped spaces.

Pigouvian Subsidy

A subsidy on goods or services that have positive externalities, aimed at encouraging activities that are beneficial for society.

External Benefits

The positive effects or advantageous consequences of a product or service that are enjoyed by individuals or groups who did not directly purchase or consume the product or service.