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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Exception reporting
What is an exception report?
A. A report highlighting adverse variances
B. A report highlighting favourable variances
C. A report prepared as and when required rather than routinely
D. A report of variances of a certain magnitude
Sir answer given is B but I need some explanation from your side ?
An exception report if a report highlighting deviations from what is expected, usually negative deviations i.e. adverse variances. The better answer is A rather than B.