Which of the following is not part of the flow of events in variance analysis:
A) Identifying questions and their explanations.
B) Working to ensure that all variances are favorable.
C) Preparing a standard cost performance report.
D) Taking corrective and strategic actions.
E) Computing and analyzing variances.

Question

Quizplus · Accepted Answer

The statement "Working to ensure that all variances are favorable" is not a part of the flow of events in variance analysis as it is not possible to ensure that all variances will be favorable. The other options including identifying questions and their explanations, preparing a standard cost performance report, computing and analyzing variances, and taking corrective and strategic actions are all key steps in the process of variance analysis.

Which of the Following Is Not Part of the Flow