Which of the Following Are Indicators of an Outdated Costing

question 89

Multiple Choice

Which of the following are indicators of an outdated costing system?
i. Products which are difficult to make have high profit margins.
ii. Competitors prices appear unrealistically low.
iii. Customers are not deterred by price increases.
iv. A lot of time is spent on special product cost projects.

• A) i, ii and iii
• B) ii, iii and iv
• C) i, iii and iv
• D) i, ii, iii and iv

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Definitions:

Good

An item or product that can be transported, used, or consumed, typically something produced for sale or trade.

Statute Of Frauds

The Statute of Frauds is a legal principle that requires certain types of contracts to be in writing and signed by all parties in order to be enforceable.

Specifically Manufactured

Items that are custom made to a buyer's specifications, often relevant in contract law regarding unique goods.

UCC

The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and harmonize the law of sales and other commercial transactions across the country.