If Actual Costs Are Much Higher Than Budgeted,the Variances Indicate

question 231

Multiple Choice

If actual costs are much higher than budgeted,the variances indicate that _________ action is needed.

• A)immediate
• B)management
• C)long-term
• D)corrective

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Definitions:

Commoditization

The process by which goods or services become undifferentiated in the eyes of the consumer, leading to competition primarily on price rather than quality or brand.

Brand Salience

Refers to the degree to which a brand is thought about or noticed by consumers when making purchase decisions.

Top of Mind Awareness

The first brand or product that comes to mind when a consumer thinks about a specific category.