Multiple Choice
Which of the following statements is characteristic of variances?
A) Unfavourable variances occur whenever actual prices or actual usage of inputs are greater than standard prices or standard usage.
B) Favourable variances occur whenever actual prices or actual usage of inputs are greater than standard prices or standard usage.
C) Unfavourable variances are always credits.
D) Favourable variances are always debits.
Correct Answer:
Verified
Correct Answer:
Verified
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