Which Costing System Is Generally Used by Companies Who Provide

question 58

Multiple Choice

Which costing system is generally used by companies who provide professional services to their clients,such as accountants and lawyers?

• A)process costing system.
• B)variable costing system.
• C)job costing system.
• D)direct costing system.

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Definitions:

Marginal Cost Curve

A graph that shows the change in the total cost of producing one additional unit of a good or service.

Average Fixed Cost Curve

A graphical representation showing how the average fixed cost per unit changes as the quantity of output produced changes.

Minimum Point

The minimum point refers to the lowest value of a function, often found in mathematical optimization and related fields.

Marginal Cost

The rise in overall expenses associated with the manufacturing of an extra unit of a good or service.