A Variance Is Said to Be Unfavorable When Actual Costs

question 58

True/False

A variance is said to be unfavorable when actual costs exceed standard costs.

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Definitions:

Induction

Induction is a method of reasoning that involves drawing general conclusions from specific observations or instances.

Deduction

The process of reasoning from one or more general premises to reach a logically certain conclusion.

Analogy

A comparison between two things, typically for the purpose of explanation or clarification.

Conclusion

A conclusion is the final part of an argument or process, logically deduced from the premises or evidence presented.