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Which of the following statements are true about standard costing & budgetary control?

A. The budgetary control at finances, production and sales is almost a necessity for best use of Standard Costing

B. Standard costing can be applied to each concern whereas budgetary control is limited to manufacturing concerns

C. Both a and b

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