Working Condition Fringes Include

question 21

Multiple Choice

Working condition fringes include:

• A)Professional organization dues paid by the employer.
• B)Bonus earned by the employee.
• C)The use of an employer-provided vehicle for business purposes.
• D)Professional organization dues paid by the employer and the use of an employer-provided vehicle for business purposes.

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Definitions:

Standard Variances

Differences between planned or standard costs and actual costs in budgeting and accounting, used to monitor and control operational performance.

Principle of Exceptions

The principle of exceptions is a management concept focusing on identifying and dealing with cases that deviate from the normal operation or standards, thus streamlining processes and oversight.

Standard Costs

Predetermined costs for manufacturing or acquiring products, used as a benchmark to compare with actual production costs for budgeting and performance evaluation.

Actual Costs

Refers to the genuine expenses incurred in the production, acquisition, or delivery of products and services.