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Management · Q290

Management Accounting

Graduate and Post Graduate · Management · question 290

Q290

In accounting, possibility of deviation of actual amount from an expected amount is classified as

A.
contribution
B.
certainty
C.
uncertainty
Answer
D.
margin

Answer: Option C

Solution

Answer: Option C
Solution:
In accounting, possibility of deviation of actual amount from an expected amount is classified as uncertainty. Uncertainty refers to epistemic situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown.