Question: What is a variance or budgeted expected performance and how are variances used? What is management by exception? What is a static budget What is

What is a variance or budgeted expected performance and how are variances used?

What is management by exception?

What is a static budget

What is a static budget variance

What is Favorable budget variance

What is an unfavorable budget variance

What is a flexible budget?

What are the sources for obtaining budget input?

What is meant by standard?

What is benchmarking?

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