The Adjective "Pre-Numbered" Is Associated with Which Generic Element of an Accounting

question 56

Multiple Choice

The adjective "pre-numbered" is associated with which generic element of an accounting information system?

• A)Input
• B)Internal control
• C)Both input and internal control
• D)Neither input nor internal control

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Definitions:

Variable Costing

An accounting method that only considers variable costs (costs that change with production levels) in product costing and decision-making.

Absorption Costing

A bookkeeping approach that encompasses the total expenses of production, including direct materials, direct labor, along with both variable and fixed overhead costs, into the pricing of a product.

Unit Product Cost

The total cost (both fixed and variable) to produce a unit of product, used for setting prices and analyzing efficiency.

Absorption Costing

An accounting method where all manufacturing costs, including both variable and fixed costs, are allocated to produced units, thus ‘absorbing’ them.