CIPS Exam L3M2 Topic 1 Question 3 Discussion

Actual exam question for CIPS's L3M2 exam

Question #: 3
Topic #: 1

[All L3M2 Questions]

Thinking in accounting terms, when the cost does not match the budget figure, there could be said to be a:

ADiscrepancy

BVariety

CVariance

DError

Show Suggested Answer

Suggested Answer: C

Actual cost and budgeted costs may / will vary. Examples might include materials variances and labour variances.

by France at Mar 17, 2024, 11:22 PM

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Valentine

6 months ago

I see your point, Lashaunda. But I still think Variance is the best answer.

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Lashaunda

6 months ago

I'm not so sure, I think it could also be A) Discrepancy.

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Franchesca

6 months ago

I agree with Valentine, a Variance means the actual cost deviates from the budgeted figure.

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Valentine

7 months ago

I think the answer is C) Variance.

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Afton

7 months ago

I see your point, Dona. But I still think Variance is the best answer.

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Dona

7 months ago

I'm not so sure, I think it could also be A) Discrepancy.

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Stephania

7 months ago

I agree with Afton, a Variance means the actual cost deviates from the budgeted figure.

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Afton

8 months ago

I think the answer is C) Variance.

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