Choose the Most Likely Used Costing System for the Industries

question 112

Multiple Choice

Choose the most likely used costing system for the industries listed below.
-Costing system used by an architectural firm.

• A)Process Costing
• B)Job Order Costing

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Definitions:

Surety

A form of security or guarantee where a third party agrees to be responsible for the debt, default, or failure of another to fulfill an obligation.

Subject To

Conditional upon or dependent on something else; can indicate subjection to legal restrictions or conditions.

Personally Liable

Refers to the responsibility of an individual to cover debts or legal judgments out of their own assets.

Mortgage

A legal agreement in which property is used as collateral for the repayment of a loan.