Which of the following statement(s) regarding performance evaluation is (are) correct? 1. Differences between standard (budgeted) and actual amounts are called Variances. II. When actual costs are less than standard (budgeted) costs, the cost variances are favorable. III. Use of Return on Investment (ROI) to evaluate managers of an investment center may avoid some of the investment decision problems that can occur with the use of Residual Income (RI) as a performance measure. Multiple Choice O I and III O Onlly III O O I, II, and III O O Only