If Both Favorable and Unfavorable Variances Exist, Then the Variance

question 93

True/False

If both favorable and unfavorable variances exist, then the variance is determined to be favorable or unfavorable based on which one is the larger amount.

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Definitions:

Analyzing

The process of examining data or details systematically to understand their structure, uncover relationships, and extract meaningful information.

Chief Information Officer

An executive responsible for managing and implementing technology and information systems within an organization.

Information Systems

Systems that manage and process data to support decision-making and operations in an organization.

Big Data

Information collected in massive amounts and at unprecedented speed from both traditional and digital sources that is used in business decision making; complex structured or unstructured sets of information that traditional processing applications are unable to analyze.