The Difference Between a Budget and a Standard Is That

Multiple Choice

The difference between a budget and a standard is that

A) a budget expresses what costs were while a standard expresses what costs should be.
B) a budget expresses management's plans while a standard reflects what actually happened.
C) a budget expresses a total amount while a standard expresses a unit amount.
D) standards are excluded from the cost accounting system whereas budgets are generally incorporated into the cost accounting system.