Management Accounting Test Questions

Q.  Which of the following statements are not true?

A) Standard costs are of forward nature while historical costs are actual in nature.
B) Historical costs are useful for control purposes while standard costs are not.
C) Standard cost is an important tool for measurement of operational efficiency while historical costs are not related to operational efficiency.
D) Standard costs are not reasonably attainable ideal costs.

a. A and B
b. B and C
c. A and C
d. B and D

ANSWER: See Answer
No explanation is available for this question!