Select the False Statement from the Following

question 122

Multiple Choice

Select the false statement from the following.

• A) Only direct costs are traced to cost objects.
• B) The same cost may be assigned to more than one cost object.
• C) General, selling, and administrative costs cannot be assigned to a cost object.
• D) A given cost can be driven by more than one cost driver.

---

Definitions:

Net Income

Net Income is the profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.

Profit And Loss Ratio

An agreed upon ratio used to divide earnings or losses of a partnership.

Salary Allowances

Portions of an individual's salary that are non-taxed, typically for specific purposes like travel or housing.

Interest Allowances

Specific amounts deducted or allowed to accommodate interest on loans or advances, often related to banking or finance terms.