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:

Judicial Determination

A decision made by a court or a judge regarding the outcome of a legal matter.

Capital Contribution

The act of providing assets or funds to a partnership or company by its owners or partners to support its operations or start-up.

Seize Partnership Property

The act of taking control over property or assets owned by a partnership, often through legal or financial processes.

Personal Debt

Financial obligations incurred by an individual, as opposed to those owed by companies or governments.