Indications That a Product Cost System Needs Revision Include

question 36

Multiple Choice

Indications that a product cost system needs revision include

• A)the product line consists of a products which are produced at different locations.
• B)the product costing computer system does not use the latest technology.
• C)the company uses a single allocation base system developed long ago.
• D)prime cost represent the vast majority of product cost.
• E)managers lose bids they expected to win and win bids they expected to lose.

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Definitions:

Legal Realism

A theory of law that emphasizes the role of judges' personal views and real-world consequences in judicial decision-making.

Natural Law Theory

A philosophical theory asserting that certain rights or values are inherent by virtue of human nature and can be universally understood through human reason.

Feudal Responsibility

Refers to the obligations and duties in the feudal system where a vassal must serve a lord in exchange for land or protection.

Trial by Battle

A historical method of resolving disputes by combat, now obsolete in modern legal systems.