Characteristics of Ideal Standards Include All of the Following Except

question 40

Multiple Choice

Characteristics of ideal standards include all of the following except:

• A)They generally give rise to unfavorable variances.
• B)They may cause personnel to become discouraged.
• C)They take into account normal waste and spoilage.
• D)They provide a maximum objective for which to strive to improve efficiency.

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Definitions:

Limited Liability Corporation

A commercial setup that blends the taxation approach of a partnership or sole proprietorship, where taxes pass directly to the owners, with the limited liability protection typical of a corporation.

Liability Purposes

Considerations or actions taken to minimize legal responsibility and financial risk within an organization or personal activities.

Corporation

A legal entity recognized by law as a separate entity from its owners, characterized by limited liability, perpetual succession, and the ability to raise capital through the issuance of shares.

Partnership

A business arrangement legally recognized, where two or more partners collaborate in managing the business and splitting the profits.