Norms Considered to Be Less Important Are Referred to as __________

question 36

Multiple Choice

Norms considered to be less important are referred to as __________, which are unwritten standards of behavior understood by people who share a common identity.

• A)informal mores
• B)folkways
• C)informal norms
• D)negative sanctions

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Definitions:

Budgeted Costs

Estimated costs associated with a planned activity or project, used for financial planning and control.

Actual Costs

The true expenses incurred in the production of goods or provision of services, as opposed to estimated or budgeted costs.

Process Costing System

An accounting method used to allocate costs to units of product in industries where the production process is continuous and the units of product are indistinguishable from each other.

Operation Costing System

A costing system that combines elements of both job costing and process costing, often used in manufacturing.