A Standard Cost System May Be Used in

question 79

Multiple Choice

A standard cost system may be used in

• A)job order costing,but not process costing.
• B)process costing,but not job order costing.
• C)either job order costing or process costing.
• D)neither job order costing nor process costing.

---

Definitions:

Control Process

A systematic effort to set performance standards, measure performance, and take corrective action as needed.

Balanced Scorecard

A strategic planning and management system used to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.

Innovation and Learning

The process of implementing new ideas, creating dynamic products, or improving existing services to meet market demands and learning from the process.

Customer Satisfaction

A measure of how products or services provided by a company meet or surpass the customer's expectations.