Distinguish among a budget, a performance report, and a variance.

A$.$ A budget measures the differences between 'a performance report and a variance; a performance report compares actual results with the

budget; and a variance is a quantitative expression of a plan of action.

B$.$ A budget compares actual results with the performance report; a performance report is a quantitative expression of a plan of action; and a

variance measures the differences between budget and actual.

C$.$ A budget compares the performance report with variances; a performance report measures the differences between budget and actual; and a

variance is a quantitative expression of a plan of action.

D$.$ A budget is a quantitative expression of a plan of action; a performance report compares actual results with the budget; and a variance

measures the differences between budget and actual.