Match the Following Costs with Their Descriptions

question 10

Multiple Choice

Match the following costs with their descriptions.
I. Controllable expenses A. Carefully predetermined costs
II. Standard costs B. Costs which are eliminated if a department is closed
III. Avoidable costs C. Expenses that cannot be directly traced to a cost object
IV. Indirect expenses D. Expenses which can be influenced by a manager

• A) I:C, II:A, III:D, IV:B
• B) I:D, II:A, III:B, IV:CC

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Definitions:

Management Accountant

A professional who specializes in providing financial reporting and analysis to assist in managerial decision-making.

Decision Criterion

The standards or benchmarks used to guide choices in the decision-making process.

Alternative Courses

Different paths or options that can be taken to achieve a goal or resolve a problem.

Decision Model

A logical or mathematical representation of a problem or business scenario that can be used to analyze and make decisions.