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___________ can be defined as a system which intends to control the cost of each unit through prior determination of what should be the cost and then its comparison with actual cost.

A. Standard costing

B. Absorption costing

C. Marginal costing

D. None of the above

Related Questions on Management Accounting Test Questions

Time value of money indicates that

A. A unit of money obtained today is worth more than a unit of money obtained in future

B. A unit of money obtained today is worth less than a unit of money obtained in future

C. There is no difference in the value of money obtained today and tomorrow

D. None of the above