What Do Price Variances Measure

question 114

Multiple Choice

What do price variances measure?

• A) The difference between the price the company pays and the price its competitors pay
• B) The change in prices over time
• C) The difference between actual and standard price
• D) The volume discounts companies receive when ordering materials in large quantities

---

Definitions:

Vocational Education

A program of study that prepares individuals for specific trades, crafts, and careers at various levels from a trade, a craft, technicians, or a professional position in engineering, accountancy, nursing, medicine, and other healing arts, architecture, pharmacy, law etc.

Tuskegee Institute

A historically black college in Alabama established by Booker T. Washington to provide African Americans with educational and vocational training.

Vocational Education

Educational training that provides practical experience and skills for a specific occupation or trade.