Question Details

Fixed budget performance reports 



1. Within the same budget performance report, it is impossible to have both favorable and unfavorable
variances.
True False
2. Cost variances are ignored under management by exception.
True False
3. Management by exception allows managers to focus on the most significant variances in
performance.
True False
4. Variable budget is another name for a flexible budget.
True False
5. Fixed budget performance reports compare actual results with the expected amounts in the fixed
budget.
True False




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