A variance can best be described as:
A) benchmarks common to other firms in the same industry.
B) differences between planned results and actual results.
C) useful for performance evaluations but not making decisions.
D) generally accepted accounting principles when standards are used.

Question

Quizplus · Accepted Answer

Variance refers to the differences between planned results and actual results, often used in budgeting and performance analysis to identify discrepancies.

A Variance Can Best Be Described As