Standard Costs Are Useful for All but Which of the Following

question 119

Multiple Choice

Standard costs are useful for all but which of the following?

• A) Determining actual costs
• B) Preparing budgets and forecasts
• C) Evaluating the performance of workers and management
• D) Helping to develop appropriate selling prices

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Definitions:

Probable

A term often used in accounting and finance to describe an event or action that is likely to occur based on current evidence.

Not Estimable

describes a condition where the value or quantity of something cannot be accurately predicted or determined.

Installment Note

A debt instrument that requires regular payments, or installments, of principal and interest over a specific period.

Annual Payments

Regular payments made once a year, often related to loans, annuities, or subscriptions.