A standard is a sales price,cost,or quantity that is expected under normal conditions.

Name: A standard is a sales price,cost,or quantity that is expected under normal conditions.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A standard in the context of accounting and finance refers to a benchmark or norm for measuring performance. Standards related to sales price, cost, or quantity are indeed expected values under normal conditions, used for budgeting, planning, and variance analysis.

A Standard Is a Sales Price,cost,or Quantity That Is Expected