Complete Question:
The principle of exceptions allows managers to focus on correcting variances between
Group of answer choices
a. standard costs and actual costs
b. competitor's costs and standard costs
c. variable costs and actual costs
d. competitor's costs and actual costs
Answer:
a. standard costs and actual costs
Explanation:
A principle of exception can be defined as a theory that states that, only relevant and significant deviation about an asset is brought to the knowledge of a manager for the decision-making process or consideration.
The principle of exceptions allows managers to focus on correcting variances between standard costs and actual costs.
