Which of the Following Is a Correct Numbering System to Identify

question 109

Multiple Choice

Which of the following is a correct numbering system to identify accounts within the chart of accounts?

• A) 101-Cash; 201-Accounts Payable; 301-K. Clarke; Capital; 401-Consulting Revenue
• B) 101-K. Clarke, Capital; 201-Consulting Revenue; 301-Cash; 401-Accounts Payable
• C) 101-Cash; 201-Consulting Revenue; 301-Accounts Payable; 401-K. Clarke, Capital
• D) 101-Accounts Payable; 201-K. Clarke, Capital; 301-Consulting Revenue; 401-Cash

Differentiate between types of costs based on their behavior (fixed, variable, semi-variable, and step costs).

Apply cost information in calculating and forecasting cost behavior in specific scenarios.

Understand various methods of cost estimation and their applications.

Calculate the total cost of production at different levels of output.

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