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:

Objective Reality

The concept of an existence or truth that is independent of personal views, interpretations, or emotions.

Immanent Justice

The view that retribution for wrongdoing is a direct consequence of the wrongdoing.

Preoperational Period

A stage in Piaget's theory of cognitive development, where children (ages 2-7) begin to engage in symbolic play and struggle with logic.

Focus

Concentration on a particular task or subject.