Question: Which statement is true regarding a standard cost system? Multiple Choice Both actual and standard costs are used. Only standard costs are used. Standards are

Which statement is true regarding a standard cost system?
Multiple Choice
Both actual and standard costs are used.
Only standard costs are used.
Standards are used only when actual amounts are not available.
If variances occur, then something negative in the operations has occurred.
Which statement is true regarding a standard cost system? Multiple Choice

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