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:

Principles of Justice

Fundamental norms or values guiding fair treatment and equity in various aspects of society, including the legal system, employment, and personal interactions.

Formal Discipline Process

A structured approach an organization uses to address employee behaviors or performance issues and to apply corrective measures.

Formal Discipline Process

A structured method by which rules are enforced and behavioral expectations are maintained within an organization.

Human Resource Department

A department within an organization responsible for overseeing employee relations, recruitment, training, benefits, and compliance with labor laws.