Cost Accumulation Is Used To

question 150

Multiple Choice

Cost accumulation is used to:

• A) Determine the cost of a particular cost object.
• B) Identify and estimate opportunity costs.
• C) Identify fixed and variable costs.
• D) Set the selling price for a service.

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Definitions:

Representation Heuristic

A cognitive shortcut that involves making a decision based on how much something resembles a typical case.

Error

A mistake or inaccuracy in action, calculation, opinion, or judgment caused by poor reasoning or misunderstanding.

Judgment

The ability to make considered decisions or come to sensible conclusions.