Match Each of the Following Descriptions with the Appropriate Costing

question 23

Short Answer

Match each of the following descriptions with the appropriate costing concept (a-c).
-Treats fixed manufacturing cost as a period cost
A)Absorption costing only
B)Variable costing only
C)Both absorption and variable costing

• A)Absorption costing only
• B)Variable costing only
• C)Both absorption and variable costing

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Definitions:

Tendency

An inclination towards a particular characteristic, behavior, or outcome, often influenced by inherent traits or external factors.

Structured Rules

Clearly defined directives or procedures that govern actions and decision-making within an organization or system.

Group Decision-making

The process whereby a group of individuals comes together to make a decision, often incorporating a variety of perspectives and reaching a consensus.

Prioritizing Ideas

The process of arranging ideas in order of importance or urgency to facilitate decision-making and focus.