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Variance Analysis Model in Accounting

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Ideally, what do you want variance analysis modeling to demonstrate?

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1. Why do companies want to keep track of trends in their variance in accounting?

2. What is a favorable variance in accounting?

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About This Quiz & Worksheet

This worksheet and quiz help test your knowledge of the variance analysis model in accounting. A favorable variance in accounting and different types of variances are covered on the quiz.

Quiz & Worksheet Goals

If you utilize these tools, you can see what you know about:

  • What variance analysis modeling should demonstrate
  • The most favorable outcome over time in this type of modeling
  • A favorable variance in accounting
  • Why all variances in accounting are inefficient over time
  • A question you might ask when variances have increased over time

Skills Practiced

  • Information recall - access the knowledge you have gained about what a favorable variance in accounting is
  • Reading comprehension - ensure that you draw the most important information from the lesson on the variance analysis model
  • Knowledge application - use your knowledge to answer a question about why variances in accounting are inefficient over time

Additional Learning

You can cover more details with the lesson Variance Analysis Model in Accounting. Use this lesson to help:

  • Figure out what the variance analysis model in accounting is used for
  • Review different types of variances
  • Compare and contrast the different forms of variances
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