Which of the Following Is Not an Advantage of Standard

question 95

Multiple Choice

Which of the following is not an advantage of standard costing over normal costing and actual costing?

• A) A greater capacity for control.
• B) Ability to easily distinguish the FIFO and weighted average methods of accounting for beginning inventory costs.
• C) Computing a unit cost for each equivalent unit cost category is not necessary.
• D) Providing for readily available unit cost information.
• E) All of these are advantages of standard costing.

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Definitions:

Game Theory

A theoretical framework for conceiving social situations among competing players and predicting their optimal decisions.

Strategic Situations

Scenarios where the outcomes depend on the actions of two or more decision-makers, each considering the others' likely responses.

Normative Economics

The part of economics involving value judgments about what the economy should be like; focused on which economic goals and policies should be implemented; policy economics.

Cheating On Agreements

The act of knowingly violating the terms of an agreement or contract, often to gain an unfair advantage or benefit.