Which of the following statements is TRUE? A variance is the difference between the actual cost...

 

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Which of the following statements is TRUE? A variance is the difference between the actual cost for the current and expected (or budgeted) performance. B) A favorable expense variance results when actual costs exceed budgeted costs. For revenue items, a favorable variance means that actual revenues are less than expected. (D) A favorable variance indicates that budgeted costs are less than actual costs. Which of the following statements is TRUE? A variance is the difference between the actual cost for the current and expected (or budgeted) performance. B) A favorable expense variance results when actual costs exceed budgeted costs. For revenue items, a favorable variance means that actual revenues are less than expected. (D) A favorable variance indicates that budgeted costs are less than actual costs.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below D A favorable variance indicates that b... View the full answer