Which of the Following Is NOT a FUNCTIONAL Cost Account

question 148

Multiple Choice

Which of the following is NOT a FUNCTIONAL cost account?

• A) Packaging
• B) Selling
• C) Order entry
• D) Rent
• E) Billing

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Definitions:

Australian Accounting Standards

Rules and guidelines set by the Australian Accounting Standards Board (AASB) that govern how financial reporting is conducted in Australia.

IASB

Stands for International Accounting Standards Board, responsible for developing International Financial Reporting Standards (IFRS).

Economic Benefits

The gains received or receivable by an entity as a result of past or future transactions or events.

Asset

A present economic resource controlled by the entity as a result of past events. An economic resource is a right that has the potential to produce economic benefits.