Which of the following statements is correct?
A. Establishing standards is the least difficult aspect of using a standard cost system.
B. Managers should be praised or punished based on variances.
C. Budget slack exists when performance standards are set at an ideal, unachievable level.
D. A favorable variance may indicate the existence of unfavorable conditions.
Answer: D
You might also like to view...
The difference between a department's gross profit and its direct operating expenses is known as the
a. departmental gross profit; b. departmental operating expenses; c. departmental operating income; d. departmental direct operating margin; e. departmental net income.
All of the following are true statements about minority opinion EXCEPT ______.
A. minority opinion has little influence over group decision-making B. minority opinion encourages problem exploration C. minority influence is often slow and indirect D. minority opinion often leads to better solutions
The ________ approach to crisis management requires firms to identify potential issues in advance and either eliminate the potential problem or devise a plan to manage it
A) reactive B) subjective C) preemptive D) defensive E) passive
Walmart is incorporated in Arkansas, the state of its origins and headquarters. Within Arkansas, Walmart is classified as a(n) ____ corporation.
A. privately-held B. foreign C. alien D. domestic E. hometown