The Costing System That Classifies Costs by Functional Group Only

question 13

Multiple Choice

The costing system that classifies costs by functional group only is

• A)standard costing.
• B)job order costing.
• C)variable costing.
• D)absorption costing.

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Definitions:

Knowledge

Information, understanding, and skills that individuals acquire through experience or education; the theoretical or practical understanding of a subject.

Skills

Specific abilities and capacities to carry out different tasks, acquired through practice, training, or experience.

Reliable Measurement

The consistency and stability of the data collected over time, ensuring accuracy in research or assessment.

Consistent Results

Outcomes that are regularly uniform and predictable across a series of tests or evaluations, indicating reliability.