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A(n) __________ is a response to the shortcomings of an ethnocentric approach.
Process
A series of actions or steps taken in order to achieve a particular end.
Favorable Variance
The difference between actual results and expected (budgeted) results that indicates more efficient or cost-effective performance.
Actual Cost
The actual expenses incurred in acquiring an asset or delivering a service, including all relevant expenditures without estimation.
Budgeted Cost
The estimated or planned amount of money allocated for a particular purpose or period of time.
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