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The difference between a budget and a standard is that a budget expresses management's plans, while a standard reflects what actually happened standards are excluded
The difference between a budget and a standard is that
a budget expresses management's plans, while a standard reflects what actually happened
standards are excluded from the cost accounting system, whereas budgets are generally incorporated into the cost accounting system
a budget expresses a total amount while a standard expresses a unit amount
a budget expresses what costs were, while a standard expresses what costs should be
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