A Cost Accounting System Should Be Revised When

question 30

Multiple Choice

A cost accounting system should be revised when

• A)the existing cost accounting system provides information that is representative of operations.
• B)the existing cost accounting system could be updated, just to keep ahead.
• C)the existing cost accounting system does not produce information that reflects the way various products use scarce resources.
• D)management wants to change the system, even though the information is relevant and correct.
• E)a new system would be easier to understand but would not be reliable.

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Definitions:

Plains Indians

Native American tribes who inhabited the Great Plains of North America, known for their nomadic lifestyle and reliance on buffalo hunting.

Permanent Residences

Dwellings where individuals live on a long-term basis, as opposed to temporary or vacation homes.

Mexican Residents

Individuals residing in Mexico, either as citizens or as foreign nationals.

Indian Residents

People residing in India, or those of Indian descent living in other countries.