In Process Costing, Costs Are Accumulated by Department, or Process

question 26

True/False

In process costing, costs are accumulated by department, or process, rather than by order.

---

Definitions:

Odds

The ratio of the probability of an event happening to the probability of it not happening; in gambling, it represents the amount won relative to the stake.

Unfriended

The act of removing someone from one's social networking friends list.

Probability

The quantification of the chance of an event happening, represented as a number from 0 to 1, with 0 meaning the event is impossible and 1 meaning the event is certain.

P-Value

The probability of observing data at least as extreme as the ones observed, under the assumption that the null hypothesis is true.