The difference between a standard and a budget is that ________.
A) a budget generally indicates a total amount while a standard indicates a per unit amount
B) a standard acts as an overall guide for operating the business on a planned course of action
C) a budget generally indicates a per unit amount while a standard indicates a total amount
D) a standard projects future costs while a budget examines past costs

Question

Quizplus · Accepted Answer

A budget typically involves setting up a total amount for a particular category of expenses or overall financial plan, while a standard refers to the desired or expected cost per unit of production or operation.

The Difference Between a Standard and a Budget Is That