An expense variance occurs when the actual amount of expenditure is higher than the budgeted amount (or vice versa).

Name: An expense variance occurs when the actual amount of expenditure is higher than the budgeted amount (or vice versa).
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Question

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An expense variance occurs when there is a difference between the budgeted amount and the actual amount spent, which can be either higher or lower than anticipated.

An Expense Variance Occurs When the Actual Amount of Expenditure