Which Are the Two Types of Cost Accounting Systems

question 136

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:

Treasury Stock

Shares that were once in circulation but have been bought back by the issuing company, reducing the amount of outstanding stock on the open market.

Common Shares

Equity securities that represent ownership in a company; holders may vote on corporate matters and receive dividends.

Stock Dividend

A dividend payment made in shares of stock rather than cash, allowing shareholders to increase their shareholding without directly purchasing additional shares.

Treasury Stock

These are shares that were issued and subsequently reacquired by the issuing company, reducing the amount of outstanding stock on the open market.