One Feature of a Standard Cost System Is That It

question 81

Multiple Choice

One feature of a standard cost system is that it:

• A) makes the record keeping process more complex and difficult.
• B) never requires updating if standard costs have been carefully determined.
• C) reduces the amount of information available to a manager.
• D) simplifies the record keeping process by allowing amounts to be carried at standard cost rather than actual cost in the accounting records.

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Definitions:

King William

A title referring to several European monarchs; most commonly recognizes King William III of England, who reigned from 1689-1702, notable for his role in the Glorious Revolution.

Mismanagement

Poor or ineffective management practices that result in a failure to achieve desired outcomes or handle resources responsibly.

Dominion of New England

A short-lived administrative union of English colonies in North America created by King James II in 1686.

Disbanding

The act of formally dissolving or breaking up a group, organization, or military unit, often resulting in its members dispersing or ceasing operations.