COST ACCOUNTING
STANDARD COSTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A standard that represents the most likely scenario can be referred to as the:
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Ideal standard
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Basic standard
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Attainable standard
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Average standard
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Explanation:
Detailed explanation-1: -A standard that represents the most likely scenario can be called the attainable standard as it is within the realms of possibility that the standard will be achieved. Ideal standards would be the standards that were possible if perfect operating conditions applied.
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