Day: October 30, 2022

Which statement best describes the objectives of standard costing?

Select ONE answer:

1. It assists in budget preparation.
2. It improves control on a ‘management by exception’ basis.
3. It provides a prediction of future costs.
4. All of the above.

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct

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