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:

Absolute Threshold

The smallest quantity of physical energy that can be reliably detected by an observer.

Groupthink

A psychological phenomenon that occurs within a group of people, in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Suppress Dissension

The act of preventing or reducing disagreement or opposition, typically within a group or organization.

Deindividuation

A psychological state characterized by diminished self-consciousness, reduced social identity, and disinhibited behavior, often occurring in group settings.