The Rules of Accounting Generally Require That ________ Costs Be

question 77

Multiple Choice

The rules of accounting generally require that ________ costs be used for purposes of keeping a company's financial records and for paying taxes.These costs are sometimes called ________ costs.

• A)economic; legal
• B)real; explicit
• C)total; economic
• D)explicit; accounting

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Definitions:

Yardstick Reports

Analysis or evaluation documents that compare current results against established standards or benchmarks.

Set Criteria

The established standards or guidelines against which decisions are made or outcomes are evaluated.

Business Reports

Formal documents that provide analysis, evaluations, and insights regarding a company's performance, for stakeholders.

Instructional

Pertaining to or intended for instruction or teaching.