Which of the Following Is a Factor That Determines the Value

question 50

Multiple Choice

Which of the following is a factor that determines the value of information?

• A)information source
• B)information quality
• C)information cost
• D)information scarcity
• E)information application

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Definitions:

Actual Hours

The real number of hours worked, as opposed to planned or scheduled hours.

Standard Cost System

An accounting method that uses cost estimates for materials, labor, and overhead to control business costs.

Variable Overhead Spending Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on the actual level of production activity.

Standard Variable Overhead Rate

The predetermined rate used to allocate variable manufacturing overhead to individual units of production.