A Grouping of Individual Cost Items Is Called a

question 112

Multiple Choice

A grouping of individual cost items is called a

• A)cost objective.
• B)costing group.
• C)cost department.
• D)cost pool.
• E)cost base.

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Definitions:

Independent Agencies

Agencies of the United States federal government that are created by an act of Congress and are independent of the executive departments.

Executive Agencies

Bodies of the government responsible for the oversight and administration of specific functions, operating under the executive branch.

Fixed Terms

A defined period for a contract or agreement, specifying the start and end dates, after which the contract may need to be renewed or will automatically terminate.

Constitutional Checks and Balances

A system in which different branches of government have powers that can prevent the other branches from gaining too much power, maintaining balance.