The Difference Between a Budget and a Standard Is That

question 210

Multiple Choice

The difference between a budget and a standard is that

• A) a budget expresses what costs were while a standard expresses what costs should be.
• B) a budget expresses management's plans while a standard reflects what actually happened.
• C) a budget expresses a total amount while a standard expresses a unit amount.
• D) standards are excluded from the cost accounting system whereas budgets are generally incorporated into the cost accounting system.

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Definitions:

Consummate Love

A type of love described by psychologist Robert Sternberg as having three components: intimacy, passion, and commitment.

Commitment

A dedication or obligation that restricts freedom of action.

Lonely People

Individuals who experience a subjective feeling of isolation or lack of companionship.

Social Skills

The abilities necessary to communicate, interact, and form relationships with others effectively.