Which of the Following Statements Is(are) True Regarding Product Costing

question 45

Multiple Choice

Which of the following statements is(are) true regarding product costing?
(A) A job is a cost object that can be easily and conveniently distinguished from other cost objects.
(B) Job cost sheets are used in accounting systems as a subsidiary ledger for the Work-in-Process account.

• A) Only A is true.
• B) Only B is true.
• C) Both of these are true.
• D) Neither of these is true.

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Definitions:

Centre of Gravity

A concept in geography and supply chain management used to find the best location for a service or distribution center by minimizing transportation costs, considering the locations of suppliers, customers, and goods.

Composite Score

An aggregate measurement derived from combining multiple individual scores, indicators, or metrics to provide a comprehensive overview or evaluation.

Factor Ratings

A method used to evaluate various factors in decision-making processes by assigning them scores based on their importance.