Mcqs Clouds
mcqsclouds.com

Which of the following statements are true about Estimated Costs and Standard Costs?

A. Standard costs are based on scientific analysis and engineering studies while estimated costs are based on historical

B. Standard cost emphasis is on ‘what cost will be’ while estimated costs emphasis is on ‘What cost should be’

C. Standard costs are more frequently revised compared to estimated costs

D. Estimated costs are more stable than standard costs

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