What Is the Assignment of Direct Costs to a Cost

question 255

Multiple Choice

What is the assignment of direct costs to a cost object called?
Variant question

• A)Cost assignment
• B)Cost allocation
• C)Cost tracing
• D)Cost pooling

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Definitions:

Pauper Labor Fallacy

The incorrect assumption that lower production costs in countries with cheaper labor will always harm the economy of wealthier countries by taking away jobs.

Comparative Advantage

The ability of an individual or country to produce a certain good or service at a lower opportunity cost than others.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service at a lower cost per unit than competitors.

Computers

Electronic devices capable of executing a set of instructions to perform a vast array of tasks, from basic calculations to complex data processing and analysis.