The difference between desired and actual cost is known as:
A) Direct tracing
B) Indirect tracing
C) A variance
D) A standard
E) None of the above

Question

Quizplus · Accepted Answer

The difference between desired (or planned, budgeted) and actual cost is known as a variance. This term is commonly used in accounting and budgeting to identify and analyze deviations from expected financial outcomes.

The Difference Between Desired and Actual Cost Is Known As