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Which of the following is not true about thereporting of variances? a. If variances are insignificant, they will be transferred tothe cost of goods sold.

Which of the following is not true about thereporting of variances?

a. If variances are insignificant, they will be transferred tothe cost of goods sold.

b. Variances may be reported on an income statement preparedfor management's use.

c. Variances are reported to external financial statementusers.

d. Managers receive information on all variances.

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