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Define and explain a budget variance

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Reference no: EM132705295

Questions -

1. What are five basic principles, which, if followed, should improve the probability of preparing a meaningful budget? Why is each important?

2. Define and explain a budget variance.

3. What is a favorable variance?

4. What is an unfavorable variance?

5. What is the purpose of computing variances?

Reference no: EM132705295

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