A System of Accounting in Which Costs Are Accumulated and Then

question 64

Multiple Choice

A system of accounting in which costs are accumulated and then measured per unit at the end of a period by combining costs per equivalent unit from various departments is a:

• A) Job order cost accounting system.
• B) Process costing system.
• C) General cost accounting system.
• D) Work in Process accounting system.
• E) Manufacturing cost accounting system.

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Definitions:

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A strategy that unfolds in response to unexpected opportunities and challenges, rather than being planned from the start.

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A framework created by Michael Porter that analyzes an industry's competitiveness and strategic business position through five forces: competition in the industry, potential of new entrants, power of suppliers, power of customers, and the threat of substitute products.