Knowledge Management Systems Are Very Costly and They Are Always

question 121

True/False

Knowledge management systems are very costly and they are always a drain on revenue.

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Definitions:

Budget Variance

The difference between budgeted figures for a set period and the actual figures achieved.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard cost allocated for the actual level of activity.

Unfavorable

A term used in budgeting and variance analysis to describe a situation where actual costs are higher than expected or budgeted costs.

Favorable

A term used in accounting and finance to describe a situation or variance that results in a better-than-expected financial outcome.