Which of the Following Is One of the Components of Cost

question 131

Multiple Choice

Which of the following is one of the components of cost accounting?

• A) It involves measuring product costs.
• B) It involves the determination of company profits.
• C) It requires GAAP to be applied.
• D) It requires cost minimizing principles.

Perform journal entries for cash transactions and adjustments.

Analyze and discuss internal control strengths and weaknesses.

Prepare lists and summaries related to cash handling and bank reconciliation tasks.

Understand the major components and purposes of internal control systems.

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Definitions:

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MPAA Rating

A classification system used in the United States by the Motion Picture Association of America to provide movie viewers with guidance on the suitability of films based on their content.

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A film rating by the Motion Picture Association indicating that some material may be inappropriate for children under 13.

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