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    Question

    ……………… cost is a criterion cost which may be

    used as a yardstick to measure the efficiency with which actual cost has been incurred.
    A Marginal Cost Correct Answer Incorrect Answer
    B Standard Cost Correct Answer Incorrect Answer
    C Absorption Cost Correct Answer Incorrect Answer
    D Product Cost Correct Answer Incorrect Answer

    Solution

    Standard cost is a criterion cost which may be used as a yardstick to measure the efficiency with which actual cost has been incurred. Standard Costs are the predetermined costs or the target costs that should be incurred under efficient operating conditions.

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