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:

Sales Representatives

Individuals who represent a company by selling its products or services, often directly to customers or through various sales channels.

Educating

involves providing knowledge or instructing individuals on certain topics or skills, fostering understanding and development.

Personal Selling

A form of direct marketing where sales representatives interact directly with customers to present products or services, aiming to achieve a sale.

Marketing Communications

The variety of techniques and tools businesses employ to inform, persuade, and remind consumers about their products or services.