When a Company Is Using Standard Costs, an Unfavorable Variance

question 90

True/False

When a company is using standard costs, an unfavorable variance is NOT necessarily an indication that a manager is doing a poor job.

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Definitions:

Implicit Memory

A type of long-term memory that does not require conscious thought to retrieve, often involving skills and routine procedures that are performed automatically.

Prospective Memory

The facet of memory tasked with remembering to undertake planned actions or bringing to mind intended future activities.

Procedural Memory

A type of long-term memory for executing tasks and skills, involving how to do things, and typically acquired through repetition and practice.

Factual Information

Data based on facts and real events, which can be proven true through evidence and observation.