Question: The difference between a budget and a standard is that standards are excluded from the cost accounting system while budgets are generally incorporated into the

The difference between a budget and a standard is that standards are excluded from the cost accounting system while budgets are generally incorporated into the cost accounting system. O a budget expresses management's plans while a standard reflects what actually happened. a budget expresses a total amount while a standard expresses a unit amount. O a budget expresses what costs were while a standard expresses what costs should be. Attempts: 0 of 1 used Submit Answer
The difference between a budget and a standard is that standards
are excluded from the cost accounting system while budgets are generally incorporated

The difference between a budget and a standard is that standards are excluded from the cost accounting system while budgets are generally incorporated into the cost accounting system. a budget expresses management's plans while a standard reflects what actually happened. a budget expresses a total amount while a standard expresses a unit amount. a budget expresses what costs were while a standard expresses what costs should be. The difference between a budget and a standard is that standards are excluded from the cost accounting system while budgets are generally incorporated into the cost accounting system. a budget expresses management's plans while a standard reflects what actually happened. a budget expresses a total amount while a standard expresses a unit amount. a budget expresses what costs were while a standard expresses what costs should be. The difference between a budget and a standard is that standards are excluded from the cost accounting system while budgets are generally incorporated into the cost accounting system. a budget expresses management's plans while a standard reflects what actually happened. a budget expresses a total amount while a standard expresses a unit amount. a budget expresses what costs were while a standard expresses what costs should be. The difference between a budget and a standard is that standards are excluded from the cost accounting system while budgets are generally incorporated into the cost accounting system. a budget expresses management's plans while a standard reflects what actually happened. a budget expresses a total amount while a standard expresses a unit amount. a budget expresses what costs were while a standard expresses what costs should be

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

The difference between a budget and a standard is that standards are excluded from the cost accounting system while budgets are generally incorporated into the cost accounting system. a budget...

Q:

39. The profitability index is computed by dividing the A) initial investment by the total cash flows B) total cash flows by the initial investment. C) initia D) present value of cash flows by the...

Q:

Knowledge Check: The difference between a budget and a standard is that Standards refer to a company's projected revenues, costs, or expenses Standard expresses what costs should be while budget...

Q:

The difference between a budget and a standard is that Standards refer to a company's projected revenues, costs, or expenses Standard expresses what costs should be while budget expresses what costs...

Q:

Knowledge Check: The difference between a budget and a standard is that Standards refer to a company's projected revenues, costs, or expenses Standard expresses what costs should be while budget...

Q:

Multiply Choice Questions (15 marks) 1) Which of the following uses managerial accounting? a) manufacturing and service entities, but not merchandising b) profit-oriented businesses only c) service,...

Q:

True False Questions: 1. Setting standard costs is relatively simple because it is done entirely by accountants True False 2. In concept, standards and budgets are essentially the same. True False A...

Q:

1.1 a) are rigorous but attainable. are the standards generally used in a master budget. c) reflect optimal performance under perfect operating conditions. d) will always motivate employees to...

Q:

Checking to see if my highlighted answers are correct???? __d__ 1. What is a standard cost? a. The total number of units times the budgeted amount expected b. Any amount that appears on a budget c....

Q:

Checking to see if my highlighted answers are correct???? __d__ 1. What is a standard cost? a. The total number of units times the budgeted amount expected b. Any amount that appears on a budget c....

Q:

A successful California engineer has installed a circular hot tub in his back yard and finds that for the typical operating conditions prescribed below, water must be added at a rate of 0.00 I kg/s...

Q:

You are a new staff associate on an engagement team that is auditing one of your accounting firms biggest clients. You overhear your audit manager making lunch plans with the clients internal audit...

Q:

The hexadecimal numbering system uses the digits 0 - 9 and A - F True False

Q:

\f

Q:

3. What should a contract of employment contain?

Q:

1. What does the term employment relationship mean?

Q:

understand and describe the rights and obligations of the employer and employee to the employment relationship