Companies develop benchmarks and calculate ___________ on items that are the most important to their businesses.

Question

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Benchmarks are standards or points of reference against which things can be compared or assessed. When companies develop benchmarks, they often calculate variances on items that are most important to their businesses. Variances help in understanding how much and in what ways actual results differ from those benchmarks, enabling businesses to identify areas of improvement or adjustment.

Companies Develop Benchmarks and Calculate ___________ on Items That Are