Which of the Following Statements Is a Definition of Standard

question 2

Multiple Choice

Which of the following statements is a definition of standard quantity of direct materials allowed for a period? Standard quantity of direct materials is

• A) the number of units of material that should have been used for expected (budgeted) production.
• B) the number of units of material that were used for actual production.
• C) the number of units of material that should have been used for actual production.
• D) the number of units of material required for each unit of production.

---

Definitions:

Creditors

Persons or entities to whom money is owed by debtors or borrowers.

Full Payment

The complete settlement of a debt or obligation, leaving no balance.

Court Approval

The formal endorsement by a judge or court of an action, agreement, or decision before it can legally take effect.

Preferential Payment

A payment made by a debtor that favors one creditor over others, often scrutinized in bankruptcy proceedings.