Define; Standard Cost

4 sentences on each topic below

* Standard cost

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* Applicability of standard costing

* Standard cost and price variance

* Direct Labor: Standard cost

* Decentralized Organizations

* Control under decentralized organizations

* Performance evaluation in decentralized organizations

* ROI to evaluate performance

* Capital Investment Decisions

* Breakeven Point

* Cash flows

* Capital budgeting

* Quality Cost

* Enterprise Risk Management

* Sustainability in accounting

* Lean Accounting

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