In Standard Costing

question 81

Multiple Choice

In standard costing,

• A)the standards are developed only for overhead costs.
• B)the standards are developed primarily from past costs.
• C)comparisons with actual costs usually are not performed.
• D)debit and credit entries to inventory accounts are made at standard costs.

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Definitions:

Insider Trading

The illegal practice of trading on the stock exchange to one's own advantage through having access to confidential information.

Nonpublic Corporate Information

Information related to a company that has not been released to the public and could be considered confidential or proprietary.

1933 Act

Also known as the Securities Act of 1933, a U.S. law enacted to ensure more transparency and honesty in the marketing and sale of securities, aiming to prevent frauds.

Attorney General of the United States

The principal legal officer who represents the United States in legal matters and heads the U.S. Department of Justice.