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Which of the following statements are not true about normal standards?

A. Normal Standards are meant to smooth out fluctuations caused by cyclical and seasonal changes

B. Normal Standards can be applied for absorption of overheads for a long period of time

C. In establishing normal standards, allowance is given to normal fatigue and breaks, and normal waste and scrap

D. None of the above

Related Questions on Management Accounting Test Questions

Time value of money indicates that

A. A unit of money obtained today is worth more than a unit of money obtained in future

B. A unit of money obtained today is worth less than a unit of money obtained in future

C. There is no difference in the value of money obtained today and tomorrow

D. None of the above