Which of the Following Is True

question 64

Multiple Choice

Which of the following is true?

• A)There is a strong correlation between long-term business success and short-term customer relationships.
• B)In the retention stage of the customer life cycle,increasing the value of each existing customer is the objective.
• C)In the growth stage of the customer life cycle,a company retains its customers by delivering on its value proposition.
• D)Customer selection and acquisition is just the beginning of the customer life cycle.

---

Definitions:

Materials Quantity Variance

The difference between the actual and the standard amount of materials used in production, valued at the standard cost.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted or standard cost, often used in budgeting and cost management.

Variable Overhead Rate Variance

The difference between the actual variable overheads incurred and the expected variable overheads based on standard rates.

Labor Rate Variance

The difference between the actual labor rate paid and the standard rate expected, multiplied by the total hours worked.