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:

Financial

Pertaining to the management of money, investments, and other monetary transactions.

Marketing

The activities, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Small Business Investment Companies (SBICs)

Privately owned and managed investment funds, licensed and regulated by the SBA, that provide capital to small businesses.