The variance is the stated difference between expected performance and the ___________?
Correct answer: C. actual results
- A. revenue planning
- B. marketing results
- C. actual results
- D. cost planning
Explanation
A variance is the difference between an expected or standard amount and the actual result achieved. Revenue planning and cost planning are budgets, not the actual outcome used in the comparison.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
Practise Cost Accounting
941 free Cost Accounting MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Accounting questions like this
Accounting is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Cost Accounting questions
A costing system, which focuses on individual activities as the particular cost object is classified as __________?
The difference between actual input variance and the budgeted input variance is called __________?
An efficiency variance is 200 units and the actual input quantity is 500 units, then the budgeted input quantity will be __________?
The quantity of input which is carefully determined is called ___________?
The degree which predetermines target or income achieved, can be grouped under __________?
An actual input quantity is 200 units and the budgeted input quantity is 50 units, then the efficiency variance will be ___________?