Which of the Following Is True Regarding a Standard Cost

question 21

Multiple Choice

Which of the following is true regarding a standard cost income statement?

• A) Variances are listed separately.
• B) Operating income is shown at standard cost.
• C) Cost of goods sold is shown only at standard cost.
• D) Sales revenue is shown only at standard revenue.

---

Definitions:

Nitrogen Bases

Organic molecules that make up the building blocks of DNA and RNA, including adenine, thymine, cytosine, guanine, and uracil.

Enzymes

Natural substances that markedly enhance the rate at which virtually all intra-cellular chemical reactions occur.

Catalysts

Substances that speed up chemical reactions without being consumed or altered in the process, critical in facilitating various biological and industrial processes.

Cofactor

Nonprotein component of an enzyme, such as coenzymes and inorganic ions essential for enzyme action.