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:

Oral Agreement

A contract or agreement made through spoken communication rather than written, legally binding if it meets certain criteria.

Contract Discharge

The termination of a contract's obligations, which can occur through various means such as performance, agreement, or breach.

Art Show

An exhibition or display of artworks in a gallery or venue where artists can present their works to the public and potentially sell them.

Prestigious

Describes something or someone that is highly respected and admired for being successful or of high quality.