If Standard Costs Are Incorporated into the Accounting System

question 10

Multiple Choice

If standard costs are incorporated into the accounting system

• A) it may simplify the costing of inventories and reduce clerical costs.
• B) it can eliminate the need for the budgeting process.
• C) the accounting system will produce information which is less relevant than the historical cost accounting system.
• D) approval of the shareholders is required.

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