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True or False:
A budget variance is the difference between expected results and actual results at different levels
of operations?
Solution
Budget Variance: Budget Variance is calculated the difference between actual and expected
results. When the actual Revenue is greater than budgeted revenue than the variance is
favourabel and vice - Versa when the budgeted rvenue is more than the variance is unfavorable.
So Variance is the difference between the actual amount and budgeted amount.
So, Answer = True.

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