List Two Reasons Why Actual Costs Are Likely to Be

question 25

Essay

List two reasons why actual costs are likely to be different from standard costs in a given period.

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Definitions:

Political Philosophies

The study of fundamental questions about the state, government, politics, liberty, justice, and the enforcement of a legal code by authority.

Distribution Of Income

Refers to the way total personal income is spread across a population.

In-Kind Transfers

Transfers to the poor given in the form of goods and services rather than cash

Market Value

The existing rate at which an asset or service may be traded in the marketplace.