Which of the Following Statements Is False

question 50

Multiple Choice

Which of the following statements is false?

• A) Standard cost systems use budgeted costs of direct material and direct labour.
• B) Variances provide a means of performance evaluation and rewards for employees.
• C) A standard costing system is usually more expensive than an actual costing system.
• D) Variances provide motivation for employees to adhere to standards.

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Definitions:

American System

An economic plan that played a significant role in American policy during the early 19th century, advocating for a high tariff to support internal improvements and protect domestic manufacturing.

New Federalism

A political philosophy that advocates for the redistribution of power from the federal government to state and local governments, emphasizing decentralization.

Dual Federalism

A political concept that views the federal government and the state governments as co-equal sovereign powers with separate and distinct areas of authority.

Great Depression

A severe worldwide economic crisis that took place during the 1930s, marked by massive unemployment and widespread poverty.