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Which type of standard is established for use over a limited period and is based on expected performance with reasonable allowances for losses?
  • a)
    Ideal standards
  • b)
    Current standards
  • c)
    Basic standards
  • d)
    Normal standards
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which type of standard is established for use over a limited period an...
The type of standard that is established for use over a limited period and is based on expected performance with reasonable allowances for losses is known as "Current standards." Current standards are practical and attainable standards that consider expected performance under current conditions, making them suitable for cost control.
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Which type of standard is established for use over a limited period and is based on expected performance with reasonable allowances for losses?a)Ideal standardsb)Current standardsc)Basic standardsd)Normal standardsCorrect answer is option 'B'. Can you explain this answer?
Question Description
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