Q.6     Basically, variances are due to four factors, assuming the budgeting exercise has been properly conducted: Can you tick the correct column?

	(a)	(b)	(c)	(d)
1.	Flexible budget	Inefficiency	Inflation	Mismanagement
2.	Volume variance	Flexible budget	Load shedding	Price variance
3.	Price variance	Static prices	Globalisation	Volume variance
4.	Quantity variance	Static quantity	Liberalisation	Quantity variance

           A         B          C           D