Difference between revisions of "Standard"
(Created page with "Standard is a carefully determined price, cost, or quantity that is used as a benchmark for judging performance. It is usually expressed on a per unit basis. ==Definition...") |
|||
| Line 4: | Line 4: | ||
According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]], | According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]], | ||
:[[Standard]]. A carefully determined price, cost, or quantity that is used as a benchmark for judging performance. It is usually expressed on a per unit basis. | :[[Standard]]. A carefully determined price, cost, or quantity that is used as a benchmark for judging performance. It is usually expressed on a per unit basis. | ||
| + | According to the [[ASME EMBOK]], | ||
| + | :[[Standard]]. A description established by authority, custom, or general consent as a model of performance, quality, etc.; also, an established rule of measurement. | ||
| − | [[Category: Accounting]][[Category:Articles]] | + | [[Category: Accounting]][[Category:Articles]][[Category: Management]] |
Revision as of 10:19, 18 July 2020
Standard is a carefully determined price, cost, or quantity that is used as a benchmark for judging performance. It is usually expressed on a per unit basis.
Definitions
According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Standard. A carefully determined price, cost, or quantity that is used as a benchmark for judging performance. It is usually expressed on a per unit basis.
According to the ASME EMBOK,
- Standard. A description established by authority, custom, or general consent as a model of performance, quality, etc.; also, an established rule of measurement.
