What Is the Most Viable Rule of Thumb for Choosing

question 89

Multiple Choice

What is the most viable rule of thumb for choosing variances that should be investigated?

• A) Greater than $10 000 or greater than 10 per cent of standard cost
• B) Greater than 50 per cent of standard
• C) Never investigate favourable variances
• D) Always investigate unfavourable variances

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Definitions:

Large Bank

A financial institution with significant assets, extensive operations, and a wide range of services, often playing a major role in the national or global financial system.

Humility

A quality that signifies a modest view of one's importance and a lack of arrogance.

Stewardship

The responsible overseeing and protection of something worth caring for and preserving, often relating to environmental or financial assets.

Servant Leadership

A leadership philosophy where the main goal of the leader is to serve others, prioritizing the needs of the team, organization, or community over personal gains.