A Materials Price Variance Is Unfavorable If the Actual Price

question 144

True/False

A materials price variance is unfavorable if the actual price exceeds the standard price.

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Definitions:

Appendix B

Generally, this term would refer to additional supporting information found at the end of a document, book, or publication, but without a specific context, it is too broad for a unique definition.

Disclosure

The action of making new or secret information known.

AASB 3

An accounting standard detailing the requirements for the accounting of business combinations.

IFRS 3

Business Combinations, an International Financial Reporting Standard that outlines the accounting and reporting requirements for mergers and acquisitions.