Organizations measure the effectiveness of their budgets by examining actual revenues and expenditures versus:
a. planned variances.
b. incremental budgets.
c. productivity metrics.
d. expected performance.
ANS: D
Correct: Variance analysis is the process by which deviations from budgeted amounts are examined by comparing actual performance results against expected, or budgeted, performance.
Incorrect:
a. Actual rather than planned variances are used.
b. Incremental budgets are developed through the use of current or recent budget performance information, and adjustments are made for future growth or decline in revenue or expenses.
c. Productivity metrics represent the amount of work produced with a specific quantity of input or resources.
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