Which Are the Two Types of Cost Accounting Systems

question 82

Multiple Choice

Which are the two types of cost accounting systems?

• A)A process cost system and a production cost system
• B)A job cost system and a process cost system
• C)A job order cost system and a manufacturing cost system
• D)A query cost system and a manufacturing cost system

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Definitions:

Current Taxes

Taxes that are due and payable within the current fiscal or tax year.

Personal Income Taxes

Taxes imposed on individuals or households by the government based on their income, where the tax rate increases as the taxable amount of income increases.

Adult Americans

Adult Americans refer to individuals within the United States who are legally recognized as adults, typically 18 years of age or older.

Tax Liability

The total amount of taxes owed by an individual, corporation, or other entity to a taxing authority such as the government.