Which Type of Costing System Is Required for External Financial

question 231

Multiple Choice

Which type of costing system is required for external financial reporting?

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

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Definitions:

Orders Passively

The act of accepting instructions or commands without question or resistance.

Company's Growth

The increase in size, revenue, or market share of a business.

Team Member

An individual who belongs to a group working together to achieve common goals or objectives.

Leadership Irrelevance

The theory or situation where leadership has little or no impact on the outcomes or performance of an organization.