Standard Costing Is NOT Possible in a Firm That Uses

question 81

True/False

Standard costing is NOT possible in a firm that uses process costing.

---

Definitions:

Duty

A moral or legal obligation to perform or refrain from performing a certain action; often relates to roles in jobs or society.

Obligation

A duty or commitment that an individual or organization is required to fulfill, whether by law, contract, or moral necessity.

Information Power

Information power is the access to and/or the control of information.

Positive Valence

A term used in psychology to describe the attractive or desirable nature of a stimulus, which influences a person’s motivation to pursue or engage in it.