Quiz: What a Budget Variance Is
WJEC Eduqas GCE A LEVEL in BUSINESS specification
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Welcome to this quiz on Budget Variance! Test your understanding with these 10 questions.
What is a budget variance?
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Which of the following are examples of budget variances? (Select all that apply)
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A budget variance that results in higher profits than expected is called a {{blank0}} variance.
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Match the items on the left with their correct pairs on the right
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A business budgeted £10,000 for marketing but spent £12,000. What is the variance?
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What type of variance occurs when expenses are higher than budgeted?
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A {{blank0}} variance happens when actual revenue is higher than budgeted revenue.
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Match the items on the left with their correct pairs on the right
If a company’s budgeted revenue is £50,000 and the actual revenue is £60,000, what is the variance?
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What can cause an adverse variance? (Select all that apply)
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