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Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Advantages of exchange-traded funds over mutual funds include [lower | higher] expense ratio.
Standard Cost System
An accounting system that uses standard costs for cost control and decision-making purposes.
Actual Results
The real, achieved outcomes of business activities, such as sales, expenses, and profits, which are compared against planned or forecasted results.
Standard Hours
The predetermined amount of time expected to complete a task, job, or project.
Variable Manufacturing Overhead
Costs that vary directly with the level of production output, such as indirect materials and indirect labor that increase as production increases.
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