A Cost System Determines the Cost of a Cost Object

question 61

Multiple Choice

A cost system determines the cost of a cost object by ________.

• A) accumulating and then assigning costs
• B) accumulating costs
• C) assigning and then accumulating costs
• D) assigning costs

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Definitions:

Job Titles

Formal names or labels given to specific jobs within an organization, which often reflect the nature of the work and level of responsibility.

Job Descriptions

Detailed explanations of the responsibilities, duties, required qualifications, and reporting relationships of a specific job within an organization.

Reengineering

The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service, and speed