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:

Specialized Software

Software designed to address specific needs of particular industries, professions, or applications, distinguishing it from general-purpose software.

High-speed Internet

Internet service that provides significantly faster download and upload speeds when compared to the traditional dial-up connection.

Network Type

Classification of computer networks based on their size, connectivity, and purpose, such as LAN, WAN, or MAN.

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