If Standard Costs Are Incorporated into the Accounting System

question 92

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 stockholders is required.

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Definitions:

Age Discrimination

Unfair treatment or bias against individuals or groups based on their age, particularly in the workplace.

Forty Years

A time period equivalent to four decades.

Employment Discrimination

Unfair or unjust treatment of employees based on race, gender, age, religion, disability, or sexual orientation.

Retroactive Promotions

The act of granting a promotion or benefits to an employee effective from a date in the past.