A Variance Can Best Be Described As

question 40

Multiple Choice

A variance can best be described as:

• A) benchmarks common to other firms in the same industry.
• B) differences between planned results and actual results.
• C) useful for performance evaluations but not making decisions.
• D) generally accepted accounting principles when standards are useD.
• Variances are internal to a company and are useful for decision making as well as performance evaluation.The statement is a basic explanation of a variance.