Management Accounting Test Questions

Q.  Which of the following statements are true about Standard Costing?

A) It controls certain elements of cost affecting production and sales.
B) It creates cost consciousness among workers.
C) It plays no role in forecast of production cost, profit and sales.
D) It follows principle of management by exception at operational level.

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

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