Causes of Random Variances Are Beyond the Control of Management

question 100

Multiple Choice

Causes of random variances are beyond the control of management, and are most often found in (or are associated with) :

• A) Fixed costs.
• B) Goods or services exchanged in open markets.
• C) Wages and salaries.
• D) Depreciation charges.
• E) Specialized industries.

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Definitions:

Notice in Writing

A formal communication or document that is recorded in written form, often required for legal or official purposes.

Subcontracts

Contracts undertaken by a contractor who signs an additional contract with another party to perform part of their contractual obligation.

Privity of Contract

A principle in contract law which holds that only parties to a contract have the right to enforce or challenge it.

Enforce the Contract

The legal process of ensuring that the terms of a contract are carried out as agreed by the parties involved.