Which of the Following Statements Is Characteristic of Variances

question 74

Multiple Choice

Which of the following statements is characteristic of variances?

• A)Unfavourable variances occur whenever actual prices or actual usage of inputs are greater than standard prices or standard usage.
• B)Favourable variances occur whenever actual prices or actual usage of inputs are greater than standard prices or standard usage.
• C)Unfavourable variances are always credits.
• D)Favourable variances are always debits.

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Definitions:

Income Inequality

A measure of the uneven distribution of income within a population.

Average Income

The sum of all incomes divided by the number of income recipients.

United States

A country located in North America, comprising 50 states and known for its significant economic and political influence globally.

Population B

A term that could specify a second or particular subgroup within a larger population for study or analysis.