Which of the Following Is Incorrect Regarding Service Firms

question 1

Multiple Choice

Which of the following is incorrect regarding service firms?

• A)Each client or account is equivalent to a process in a process costing firm.
• B)The accounting system will track the time and resources spent serving a specific client or account.
• C)Managers of service firms need cost information to price their services,to budget and control costs,and to determine the profitability of different types of clients.
• D)The primary driver used to assign costs is billable hours.

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The basic rules and principles that guide the operations of a government or organization.

Commerce Clause

A provision in the United States Constitution that grants Congress the power to regulate commerce with foreign nations, and among the several states and with the Indian tribes.

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The highest federal court in the United States, which has ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.