Which of the Following Factors Should Be Considered in Establishing

question 133

Multiple Choice

Which of the following factors should be considered in establishing standards for use with a standard costing system?

• A) Historical data.
• B) Current and planned technology, plant layout, and operating procedures.
• C) Behavioral implications.
• D) All of these answers are correct.

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Definitions:

Standard

A level of quality or attainment used as a measure, norm, or model in comparative evaluations.

Selfish

Prioritizing one's own needs or desires over those of others; acting with concern for oneself above others or the common good.

Rational

Pertaining to reasoning or logical thinking, often involving a systematic process of thinking to arrive at a conclusion.

Ego

In psychoanalytic theory, the part of the personality responsible for dealing with reality, balancing the demands of the id and superego.