Which of the Following Statements Regarding the Service Industry And/or

question 82

Multiple Choice

Which of the following statements regarding the service industry and/or the application of management accounting techniques to the service industry is incorrect?

• A) Service output is much more difficult to define than manufacturing output.
• B) Many of the activity measures chosen for service firms tend to be different from those chosen by manufacturing firms.
• C) Firms in the service industry should use process costing systems rather than job costing systems.
• D) Many service firms use a hybrid costing system.

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Definitions:

Conflict Manager

A professional who specializes in identifying, addressing, and resolving conflicts within organizations or between individuals.

Competitor

An individual or company that competes against others for the same market share or audience in an industry.

Win-Win Solution

A resolution to a conflict where all parties involved obtain a favorable outcome.

Collaboration

The process of two or more people or organizations working together to complete a task or achieve a goal.