The Favorable Variances Have Credit Balances

question 55

True/False

The favorable variances have credit balances. They are contra-expenses and therefore decrease the expense Cost of Goods Sold.

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Definitions:

Attitude-Behavior Consistency

The extent to which an individual's attitudes are reflected in their actual behaviors.

Abstract Concept

An idea that does not have a physical form or is not concretely observable.

Predictive Value

The extent to which a score or measurement can accurately forecast or predict a specific outcome.

Attitude-Behavior Consistency

The degree to which a person's convictions are faithfully reflected in the way they act across different scenarios and over time.