Crafting Rules That Guide Administrative Discretion Is Referred to as Which

question 21

Multiple Choice

Crafting rules that guide administrative discretion is referred to as which of the following?

• A) standard setting
• B) rulemaking
• C) legislation
• D) executive privilege

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Definitions:

Actual Materials

The actual amount of materials used in the production process, measured in physical units or cost.

Standard Price

A predetermined cost for a unit of material, labor, or overhead anticipated in the budgeting process, against which actual costs are compared.

Actual Output

The real quantity of goods or services produced by a company, as opposed to planned or expected output.

Standard Variable Overhead Rate

The rate used in budgeting and costing that applies variable overheads to a specific activity basis such as labor hours.