Q161
Point at which control functions and planning of management come together is known as
A.
functioning
B.
variance
AnswerC.
variation
D.
deviation
Answer: Option B
Solution
Answer: Option B
Solution:
Point at which control functions and planning of management come together is known as variance. A variance in management accounting may be favourable (costs lower than expected or revenues higher than expected) or adverse (costs higher than expected or revenues lower than expected).