A Standard Cost System May Be Used with

question 7

Multiple Choice

A standard cost system may be used with

• A)job order costing only.
• B)process costing only.
• C)activity-based costing.
• D)either job order or process costing.

---

Definitions:

Marketable Securities

Financial instruments that are easily convertible into cash at close to their original value, often used for short-term investments.

Accounts Payable

Accounts payable is the amount of money that a company owes to its suppliers or creditors for goods and services received but not yet paid for, typically due within a short period, like 30 or 60 days.

Use of Cash

Refers to how a business or individual employs their cash resources, including spending, investing, or saving activities.

Inventory Holdings

The quantity of goods or materials in stock by a business awaiting sale or use.