A Favorable Variance for a Cost Means That When Compared

question 110

Short Answer

A favorable variance for a cost means that when compared to the budget, the actual cost is
________ than the budgeted cost.

---

Definitions:

Anosognosia

A condition in which a person is unaware of their own mental health condition or cannot perceive their condition accurately.

Money Management

Money Management is the process of budgeting, saving, investing, spending, or otherwise overseeing the capital usage of an individual or group.

Rationalization

A psychological strategy where disputable actions or emotions are rationalized in an apparently logical way to evade the actual reasoning.

Depot Antipsychotic

Long-acting injectable antipsychotic medications used in the treatment of schizophrenia and other disorders, providing steady medication levels.