The mechanism by which a business can reduce its tax liability by claiming credit for taxes paid on purchases is called: MCQ with Answer and Explanation

Explanation:
Capacity variance indicates under/over utilisation of plant capacity; adverse means actual hours < budgeted hours.

Explanation:
When the Trial Balance disagrees, the difference is placed in a Suspense Account to allow the preparation of final accounts. The suspense account is cleared once the errors are located and rectified.

Explanation:
Cost control ensures costs do not exceed the set budget/standard, while cost reduction seeks to permanently lower the standard itself.