What Are the Two Basic Types of Costing Systems

question 29

Multiple Choice

What are the two basic types of costing systems?

• A) Job costing and process costing
• B) Periodic costing and perpetual costing
• C) Product costing and materials inventory costing
• D) Periodic costing and process costing

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Definitions:

Expired Warrants

Warrants that have reached their expiration date and are no longer valid or exercisable to buy the underlying security at a predetermined price.

Additional Paid-In Capital

The amount of money paid by investors to a company above the par value of the shares during common or preferred stock issuance.

Common Stock Warrants

Common stock warrants are financial instruments that give the holder the right to purchase the issuer's common stock at a specified price before the warrant expires.

Callable

A financial instrument or security that gives the issuer the right to redeem or "call" it back before its maturity date under specified conditions.