The Key Terms to Remember When Discussing a Robot Are

question 29

Multiple Choice

The key terms to remember when discussing a robot are:

• A)programmed and performance
• B)specialized and reprogrammable
• C) performance and specialized
• D) reprogrammable and multifunctional

Understand the concept of standard hours and their use in variance analysis.

Learn the implications of using ideal vs. currently attainable standards in budgeting and variance analysis.

Gain insight into nonfinancial performance measures and their uses.

Understand the principles of cost behavior and how it impacts managerial accounting.

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Definitions:

Software Production Costs

Expenditures associated with the development or acquisition of software, which may be capitalized and amortized over its useful life if it meets specific criteria.

Technological Feasibility

The point at which a company can demonstrate that a new technology can be reliably produced at a scalable level.

Expense

An outflow of cash or other valuable assets from a person or company to another entity in exchange for goods or services or as a cost for generating revenue.

Capitalize

To record a cost as an asset, rather than an expense, delaying the recognition of the expense over time through depreciation or amortization.