An Important Advantage of a Standard Cost System Is That

question 107

Multiple Choice

An important advantage of a standard cost system is that standard costs:

• A)Cause financial statements to be more comparable because different companies cost their inventories in the same manner.
• B)Can be determined with great precision so that inventories are valued with complete accuracy.
• C)Cause a lower net income,resulting in lower income taxes.
• D)Focus attention on trouble spots and facilitate prompt corrective action.

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