Standard cost systems facilitate the management practice known as:
A) Management by the numbers.
B) Management development.
C) Management by exception.
D) Just-in-time management.

Question

Quizplus · Accepted Answer

Standard cost systems provide a predetermined cost that serves as a benchmark for evaluating actual costs. This facilitates management by exception, which involves focusing on significant deviations from the standard and taking action to address those exceptions. Management by the numbers and just-in-time management are management practices that are not specifically facilitated by standard cost systems. Management development is a broad term that encompasses various practices for developing managers and is not directly related to standard cost systems.

Standard Cost Systems Facilitate the Management Practice Known As