A Standard Cost System

question 163

Multiple Choice

A standard cost system:

• A) Cannot be used in conjunction with a job-cost system.
• B) Is not permissible for financial-reporting purposes.
• C) Is most easily introduced in conjunction with a process-cost system.
• D) Is useful for planning but not control purposes.
• E) Is useful for cost control but not planning purposes.

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Definitions:

++ Operator

A unary operator in programming that increments the value of its operand by one.

Prompt

A message or symbol on a computer screen that indicates the system is ready to receive input from the user.

Temporary Holding Area

A space in memory used to temporarily store data while it is being moved or processed.