A Good System of Standard Costing Always

question 66

Multiple Choice

A good system of standard costing always

• A)ensures that the right staff are to blame if there are negative variances.
• B)ensures that the right staff are both rewarded and blamed when there are positive or negative variances.
• C)avoids excessive detail in examining small variances.
• D)considers the impact of morale on all those who utilize the reporting system.

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Definitions:

Public-Works Programs

Government-funded projects aimed at creating jobs and building public infrastructure like roads, schools, and hospitals.

Grand Coulee Dam

One of the largest concrete structures in the world, located on the Columbia River in Washington State, primarily built for power production and irrigation.

"Brains Trust"

A group of close advisors, academics, and economists who advised President Franklin D. Roosevelt during the New Deal.

Large Corporations

Major companies or enterprises that operate in multiple countries and have a significant impact on the economy.