Which Accounting Method Is Used for External Reporting

question 21

Multiple Choice

Which accounting method is used for external reporting?

• A)absorption costing
• B)variable costing
• C)transfer price costing
• D)responsibility costing

---

Definitions:

Innovations

The introduction of new ideas, methods, or products aimed at improving processes, enhancing efficiency, or solving problems.

Technology

The application of scientific knowledge for practical purposes, especially in industry and in our daily lives.

Cultural Tools

Artifacts, symbols, and technologies that a culture creates, which play a crucial role in the cognitive development and socialization of its members.

Transform

To make a thorough or dramatic change in the form, appearance, or character of something.