Standard Costing Is Typically a Sophisticated and Inexpensive Component to Add

question 1

True/False

Standard costing is typically a sophisticated and inexpensive component to add to a company's existing cost accounting system.

---

Definitions:

Difference Threshold

The minimum noticeable difference that a person can detect between two stimuli 50% of the time; also known as the just noticeable difference (JND).

Just Noticeable Difference

The smallest difference in a stimulus that an organism can barely perceive.

Difference Threshold

The minimum difference in stimulation that an individual can detect 50% of the time, also known as the just noticeable difference (JND).

Difference Threshold

The minimum difference in stimulation that a person can detect 50 percent of the time, also known as the just-noticeable difference (JND).