The Two Basic Types of Costing Systems Are

question 182

Multiple Choice

The two basic types of costing systems are

• A)product costing and materials inventory costing.
• B)periodic costing and perpetual costing.
• C)job costing and process costing.
• D)periodic costing and process costing.

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Definitions:

Sensing

The process of gathering information through the five senses – sight, hearing, touch, smell, and taste – which enables individuals to understand and interact with their environment.

Recipient's End

The final destination or the party who receives a message, parcel, or transaction.

Interpretation

The act of explaining or understanding the meaning of something, such as a text, action, or event.

Recipient's End

The final destination or the target audience for a message, document, or package.