Standard Costs

question 66

Multiple Choice

Standard costs

• A)are estimates of costs attainable only under the most ideal conditions.
• B)are difficult to use with a process costing system.
• C)can,if properly used,help motivate employees.
• D)require that significant unfavorable variances be investigated,but do not require that significant favorable variances be investigated.

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Definitions:

Emotional Intelligence

The ability to recognize, understand, manage, and use one’s own emotions positively to relieve stress, communicate effectively, empathize with others, overcome challenges, and defuse conflict.

Analytically

Pertaining to the systematic examination of complex data or problems to understand their nature or to find solutions.

Making Decisions

The cognitive process of selecting a course of action from among multiple alternatives, often involving consideration of potential outcomes and implications.

Anticipatory Fear

Refers to the fear or anxiety felt in anticipation of a perceived threat.