Which of the Following Is a Reason Companies Use Standard

question 4

Multiple Choice

Which of the following is a reason companies use standard costs?

• A) to enhance customer loyalty
• B) to ensure the accuracy of the financial records
• C) to share best practices with other companies
• D) to identify performance standards

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Definitions:

Labor Relations

The interaction between management and workers, particularly concerning employment terms, conditions, and the negotiation of collective bargaining agreements.

Right-to-Work Laws

Right-to-Work Laws prevent unions and employers from requiring union membership for employment, enhancing individual freedom to choose.

National Labor Relations Board

An independent U.S. federal agency created to enforce labor laws concerning collective bargaining and unfair labor practices, ensuring employees' rights to organize and bargain collectively are protected.

Employee Empowerment

Giving employees responsibility and authority to make decisions regarding all aspects of product development or customer service.