The Three Major Differences Between Process and Job Order Costing

question 92

Multiple Choice

The three major differences between process and job order costing systems are those relating to:

• A)Quantity, quality, and cost.
• B)Speed, accuracy, and design.
• C)Cost object, product or service variety, and timing of unit cost calculation.
• D)Responsibility for cost, system design, and authorization codes.
• E)None of the above is correct.

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Definitions:

Interest-free

Financial arrangements or loans that do not require the borrower to pay any extra amount over the principal borrowed amount.

Financial Institution

An organization that provides financial services, such as banks, insurance companies, and investment firms.

Suppliers

Entities or individuals that provide goods or services to another business, often as part of a supply chain.