Q.1.

Which variance is sometimes known as the rate variance?

	A.	Volume variance
	B.	Quantity variance
	C.	Price variance
	D.	None of these is correct.

Q.2.

Variance analysis inputs must stipulate:

	A.	the applicable time period.
	B.	the services or products delivered or produced.
	C.	the applicable time period and the services or products delivered or produced.
	D.	None of these is correct.

Q.3.

Flexible budgeting variance analysis was conceived by industry and was subsequently discovered by health care.

True

False

Q.4.

In variance analysis, the applicable standard:

	A.	could be a standard quantity.
	B.	could be standard hours.
	C.	equates to what should have been used rather than what was actually used.
	D.	All of these are correct.