Choose the Most Likely Used Costing System for the Industries

question 47

Multiple Choice

Choose the most likely used costing system for the industries listed below.
-Costing system used by a manufacturer of custom furniture.

• A)Process Costing
• B)Job Order Costing

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Definitions:

Loans

Borrowed sums of money that are expected to be paid back with interest.

Tariffs

Taxes imposed by a government on goods and services imported from other countries, used to control trade, raise government revenue, or protect domestic industries.

Import Quotas

Import Quotas are government-imposed limits on the quantity of certain goods that can be imported, aiming to protect domestic industries.

Debt Relief

A measure or a set of measures aimed at reducing or restructuring the debt of an individual, corporation, or nation to alleviate financial burden.