UGC NET COMMERCE July 2018 Q10
0. Which one of the following statements is true about estimated costs and standard costs?
- A
Standard costs are based on scientific analysis and engineering studies while estimated costs are based on historical basis.
- B
Standard cost emphasis is on “what cost will be” while estimated cost emphasis is on “what cost should be”.
- C
Standard costs are more frequently revised compared to estimated cost.
- D
Estimated costs are more stable than standard costs.
