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AICPA Exam CPA-Financial Topic 3 Question 15 Discussion
Actual exam question for
AICPA's
CPA Financial Accounting and Reporting exam
Question #: 15
Topic #: 3
[All CPA Financial Accounting and Reporting Questions]
Topic #: 3
A planned volume variance in the first quarter, which is expected to be absorbed by the end of the fiscal period, ordinarily should be deferred at the end of the first quarter if it is:
Suggested Answer:
D
Choice 'd' is correct. Yes - Yes.
Rule: Volume variances that are planned or expected to be absorbed by the end of the year should be deferred at interim whether favorable or unfavorable.
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