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8 December, 16:00

A variance that results from expected economic conditions that do not materialize is called what?

Sales variance

Planning variance

Economic variance

Material variance

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  1. 8 December, 16:30
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    Answer: Economic variance

    Economic Variance is stated as a statistical technique to measure how much a collection of data/observations will differ from others. Also in financial analysis, this is referred to as how much an actual expense aberrates from a budgeted amount.

    Therefore the correct option is Economic variance
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