What is a variance?
Variant question
A)The required number of inputs for one standard output
B)The gap between an actual result and a benchmark amount
C)The difference between an actual result and a budgeted amount
D)The difference between a budgeted amount and a standard amount

Question

Quizplus · Accepted Answer

Variance refers to the difference between an actual result and a budgeted amount. Option A is incorrect as it does not relate to variance. Option B is partially correct, but benchmark amount may not always be the relevant comparison for variance. Option D is incorrect as it refers to the difference between a budgeted amount and a standard amount, which is not the same as variance.

What Is a Variance