An Efficiency Variance Measures How Well the Business Uses Its

question 123

True/False

An efficiency variance measures how well the business uses its materials or human resources.

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Definitions:

Repossession

The process by which a creditor takes back property from the debtor when the debtor does not make payments due on the property.

Empowerment

The practice of giving employees more responsibility and authority to make decisions and control over their work.

Sharing Power

The distribution of authority and decision-making responsibilities among individuals or groups within an organization.

Iron Law

Refers to the principle of "iron law of oligarchy," which posits that all forms of organization, regardless of how democratic they are at the start, will eventually and inevitably develop oligarchic tendencies.