Where There Is an Insignificant Adverse Variance, Management Is Best

question 72

Multiple Choice

Where there is an insignificant adverse variance, management is best advised to:

• A)ignore it, as the cost of investigation may outweigh the benefit.
• B)investigate immediately and in full detail.
• C)keep the variance under review.
• D)ignore it, as it may be compensated by an insignificant favourable variance.

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Definitions:

Initiative Vs. Guilt

This term refers to one of Erik Erikson's stages of psychosocial development, in which children aged approximately 3 to 5 years learn to initiate activities and interact with others or experience guilt for their efforts and actions.

Schemata

Cognitive structures or frameworks that help individuals organize and interpret information, based on their accumulated knowledge and experiences.

Prototypes

Original models or first forms of a product or design that serve as examples or standards for later stages or versions.

Cognitions

Mental processes that encompass the functions of understanding, including thinking, reasoning, and remembering.