What Do Variances Indicate

question 10

Multiple Choice

What do variances indicate?

• A)that actual performance is not going according to plan
• B)the cause of the variance
• C)who is responsible for the variance
• D)when the variance should be investigated

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Definitions:

Risk of Loss

Refers to the financial and legal responsibility for damage, destruction, or loss of goods, usually determined by the terms of sale like F.O.B.

Identification

The act of identifying or confirming the identity of an individual or object.

Risk of Loss

The potential for an investment or venture to result in financial loss, a fundamental consideration in finance and insurance.

Sales Contract

A legal agreement between a buyer and seller detailing the terms and conditions of a sale of goods or services.