Which of the Following Statements Is False

question 74

Multiple Choice

Which of the following statements is false?

• A) A standard cost is more accurate than a budgeted cost.
• B) A standard is a unit amount.
• C) In concept standards and budgets are essentially the same.
• D) The standard cost of a product is equivalent to the budgeted cost per unit of product.

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Definitions:

Discount Bond

A bond sold for less than its face value and will mature at its face value, resulting in capital appreciation.

Straight-Line Method

A depreciation technique that applies consistent expense allocation over the useful life of a fixed asset (a rephrased definition of Straight-Line Depreciation).

Semiannually

Occurring twice a year; typically referring to processes or events that happen every six months.

Straight-Line Method

A depreciation technique that allocates an equal amount of the asset's cost to each year of its useful life.