An Unfavourable Variance Between Budgeted and Actual Data May Indicate

question 30

Multiple Choice

An unfavourable variance between budgeted and actual data may indicate:

• A)Poor performance.
• B)Budget estimates were set at an unrealistic or unachievable level.
• C)The estimation of future activity levels and the associated potential costs and revenues is incorrect and inaccurate.
• D)All of the options are correct.

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Definitions:

Unconscionable

A term used to describe actions or conditions that are grossly unfair or ethically wrong, often leading to a contract being declared void.

Sales Contract

A legally binding agreement between a buyer and a seller detailing the terms of a sale of goods or services.

Bargaining Power

The relative capacity of parties in a situation to exert influence over each other, usually in negotiations.

Commercial Contractors

are businesses or individuals that are contracted to perform work or provide services as part of commercial or business activities.