BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Differences between actual and expected performance are
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ratios.
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budgets.
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profit or loss.
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discrepancies.
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Explanation:
Detailed explanation-1: -A performance gap is the difference between an employee’s current performance and their desired performance. Put simply, an employee has a performance gap when they have to perform a certain task in their role, but they don’t know how to complete it.
Detailed explanation-2: -This gap is better known as variance, a comparison of the intended or budgeted amount and the actual amount spent. Variance analysis is the practice of comparing actual results to what was planned or expected.
Detailed explanation-3: -Yield variance is the difference between actual output and standard output of a production or manufacturing process, based on standard inputs of materials and labor.
There is 1 question to complete.