_________________ Are Costs Imposed on Third Parties

question 19

Multiple Choice

_________________ are costs imposed on third parties.

• A)Positive externalities
• B)Negative externalities
• C)Positive private costs
• D)Positive private benefits

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Definitions:

Currently Attainable Standards

Benchmarks or goals that can be achieved under current operating conditions and capabilities, used for measuring performance and improvement.

Production Difficulties

Challenges encountered during the manufacturing or production process that can lead to delays, increased costs, or reduced quality of the finished product.

Direct Labor Standard

A benchmark for the amount of labor directly involved in producing a unit of output, used for budgeting and measuring efficiency.

Standard Cost Systems

Accounting systems that use standards for each element of manufacturing cost entering into the finished product.