alleryStart learning →A syllabus is used as an analogy for which management tool?
AA balance sheet
BAn income statement
CA cash flow chart
DA standard cost
Answer & Solution
Correct answer: D. A standard cost
1. The analogy is about communicating expectations.
2. A syllabus is one way an instructor can communicate expectations to students.
3. A standard cost communicates expectations in the same way.
4. Both set out what is expected before the work is done.
_Source: OpenStax Principles of Accounting, Volume 2: Managerial Accounting (CC BY-NC-SA 4.0), Ch 8 'Standard Costs and Variances'_
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