The Costing System That Reduces the Use of Broad Averages

question 90

Multiple Choice

The costing system that reduces the use of broad averages for assigning the cost of resources to cost objects is the ________.

• A)job-costing system
• B)process-costing system
• C)product-costing system
• D)market-costing system
• E)refined-costing system

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Definitions:

Population

The total number of individuals or entities within a defined area or group at a specific time.

Per Annum

An annual rate or measurement, often used in the context of interest rates or financial growth rates.

Compounds Interest

Interest calculated on the initial principal as well as the accumulated interest of previous periods of a deposit or loan.

APR Loans

The Annual Percentage Rate of a loan encompasses the yearly interest rate plus any additional fees, representing the actual cost of borrowing.