Traditional Standard Costs Are Inappropriate Measures for Performance Evaluation in the "New

question 120

Multiple Choice

Traditional standard costs are inappropriate measures for performance evaluation in the "new era" of manufacturing because they

• A)build in allowances for non-value-adding activities.
• B)are based on historical information.
• C)don't reflect current costs.
• D)are ideal goals.

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Definitions:

Tax Identification Number

A unique identifier assigned to individuals, businesses, and other entities for tax reporting and filing purposes.

Manual Claims Tracking

A system or process where insurance or medical claims are tracked by hand or using non-automated tools.

Medically Necessary

Refers to health care services or supplies needed to diagnose or treat an illness, injury, condition, disease, or its symptoms, and that meet accepted standards of medicine.

Electronic Claims Tracking

The process of using digital systems to manage and monitor the status of medical billing claims through their lifecycle.