Which of the Following Statements Is True of Cost Variances

question 129

Multiple Choice

Which of the following statements is true of cost variances and efficiency variances?

• A)They pertain to the difference between the static budget and actual results.
• B)They pertain to the difference between the flexible budget and actual results.
• C)They pertain to the difference between the flexible budget and the static budget.
• D)They pertain to the difference between the static budget and the previous year's actual results.

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Definitions:

Supply

The total amount of a product or service available for purchase at any specified price.

Supply

Refers to the total amount of a specific good or service that is available to consumers, which can vary based on the price level, production costs, and other factors.

Demand

The measure of products or services that consumers are inclined and have the financial capacity to buy at assorted prices during a designated interval.

Exchange Rate

the price at which one currency can be exchanged for another, influencing international trade and investment.