Which of the Following IS NOT a Benefit of a Standard

question 58

Multiple Choice

Which of the following IS NOT a benefit of a standard cost system?

• A)consistently costed products.
• B)assistance in the identification of manufacturing inefficiencies.
• C)provides a basis for setting selling prices.
• D)reduction of the accounting workload.

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Definitions:

Operational Risks

The possibility of experiencing a loss due to inefficient or malfunctioning internal procedures, individuals, and systems, or owing to occurrences outside the organization's control.

Vendors Quality

The measure of excellence or state of being free from defects, deficiencies, and significant variations, brought by the strict and consistent adherence to measurable and verifiable standards to meet consumer's satisfaction by the vendor.

Poverty Trap

A situation in which an individual or community remains in poverty because their low income prevents them from investing in opportunities that could increase their wealth.

Individual Capability

The skills, knowledge, and abilities possessed by an individual that enable them to perform tasks and achieve goals.