NCEA Level 2 Business Studies Practice Questions - NCEA Level 2 Business Studies (Standards 90843, 90844, 90845) Exam

In financial management, what does an 'adverse variance' in an expense budget signify?

Budgeted profit was equal to actual net profit Actual revenue exceeded budgeted revenue Actual costs were lower than budgeted costs Actual costs exceeded budgeted costs

Correct Answer:

Actual costs exceeded budgeted costs

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