Cost Accounting Standards

Multiple Choice

Cost accounting standards

A) are legal standards set by the Institute of Management Accountants for use in all manufacturing and professional businesses.
B) are set by the Cost Accounting Standards Board and are legally binding on all manufacturers,but not service organizations.
C) do not exist except for those legal pronouncements for companies bidding or pricing cost-related contracts with the government.
D) are developed by the Cost Accounting Standards Board,issued by the Institute of Management Accountants,and are legally binding on CMAs.