The Term Efficiency Variance Is the Direct Cost Portion of the Flexible-Budget

question 71

True/False

The term efficiency variance is the direct cost portion of the flexible-budget variance.

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Definitions:

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Authority

Authority refers to the legitimate power or right to give orders, make decisions, and enforce obedience, often held by individuals in positions of leadership or institutions.

Deinstitutionalization

The process of reducing or eliminating reliance on institutional care (e.g., mental health hospitals) in favor of community-based services.

Diversity

The representation and acknowledgment of a wide range of differences within a population, including cultural, ethnic, gender, sexual orientation, and ideological perspectives.