One of the Primary Reasons for Using Cost Variances Is

question 25

Multiple Choice

One of the primary reasons for using cost variances is:

• A)they diagnose the cause of a problem and what should be done to correct it
• B)for superiors to communicate expectations to lower-level employees
• C)to administer appropriate disciplinary action
• D)for financial control of operating activities and understanding why variances arise

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Definitions:

Concessionaire

An entity granted the right to operate a business within the premises owned by another, often in public or entertainment venues.

Price

The amount of money required to purchase a good or service.

Quantity

A specified amount or number of items.

Writing

The physical manifestation of language in the form of symbols or marks on surfaces like paper, used to communicate thoughts and ideas.