The Purpose of Standard Costing Is To

question 23

Multiple Choice

The purpose of standard costing is to:

• A)Determine optimal production level for a given period.
• B)Eliminate the need for subjective decisions by management.
• C)Control costs.
• D)Allocate cost with more accuracy.

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Definitions:

Reckless Disregard

A legal standard denoting a person's intentional negligence or indifference to the known risk of their actions causing harm to others.

Clear And Present Danger Test

A legal doctrine used to determine under what circumstances limits can be placed on First Amendment freedoms of speech, press, or assembly.

Bad Tendency Rule

Legal doctrine that permits the restriction of freedom of speech if the speech in question has a tendency to incite crime or disturb the public peace.

Strict Scrutiny Test

A form of judicial review that courts use to determine the constitutionality of certain laws, requiring the law to be narrowly tailored to serve a compelling governmental interest.