Which of the Following Statements Is FALSE

question 130

Multiple Choice

Which of the following statements is FALSE?

• A) A job order costing system would be used by manufacturers of custom made products.
• B) A process costing system would be used by manufacturers of commodities, such as flour or sugar.
• C) A service firm would likely use a job order costing system.
• D) A print and copy shop would likely use a process costing system.

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Definitions:

Social Welfare

Organized public or private social services for the assistance of disadvantaged groups.

Internalizing External Costs

The process of ensuring that the prices of goods and services fully reflect all the costs and benefits, including those impacts on the environment and human health that are not accounted for in the market price.

Environmental Degradation

The deterioration of the environment through depletion of resources such as air, water, and soil; the destruction of ecosystems; and the extinction of wildlife.

Market Price

The current value at which a commodity, security, or service can be bought or sold in a marketplace.