Question

The principle of exceptions allows managers to focus on correcting variances between apetitor's costs and actual costs bpetitor's costs and standard costs c.standard costs and actual costs d.variable costs and actual costs

Answer 1

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.