Which of the Following Statements Is FALSE

question 52

Multiple Choice

Which of the following statements is FALSE?

• A) A cost may be defined as a sacrifice or giving up of resources for a particular purpose.
• B) Costs are frequently measured by the monetary units that must be paid for goods and services.
• C) Only manufacturing firms need some form of cost accounting.
• D) A cost accounting system typically has two processes that include cost accumulation and cost assignment.

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Definitions:

Hub

A central point of connection in a network where nodes can communicate, often simplifying the linkage between devices or systems.

Bing

A web search engine owned and operated by Microsoft, offering various search services including web, video, image, and map searches.

Google

A multinational technology company specializing in Internet-related services and products, including search engines, online advertising, and software.

Safari

A web browser developed by Apple Inc., known for its performance and efficiency on Mac and iOS devices.