Which Type of Costing System Can Only Be Used for Internal

question 282

Multiple Choice

Which type of costing system can only be used for internal financial reporting because it is unacceptable by GAAP?

• A)Prime costing
• B)Out-of-pocket costing
• C)Variable costing
• D)Absorption costing

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Definitions:

Endurance

The capacity to sustain a physical or mental effort for an extended period, often critical in sports, academics, and personal challenges.

Physical Activity

Any bodily movement produced by skeletal muscles that requires energy expenditure, including exercise and daily movements.

Good Nutrition

The intake of a balanced diet that provides all essential nutrients, vitamins, and minerals required for the body's optimal growth, development, and functioning.

Mood Swings

Rapid and intense changes in emotional state, ranging from extreme happiness to intense sadness or irritability, often without a clear trigger.