Which of the Following Descriptions Best Explains the Difference Between

question 41

Multiple Choice

Which of the following descriptions best explains the difference between a billing system and a costing system for a service firm?

• A) A costing system accumulates the amounts that the service costs the firm to provide.
• B) A billing system estimates the fees to be charged to the client for the service based on chargeout rates per billable hour.
• C) A billing system accumulates the amounts that the client is to be charged for the service rather than the costs of the service.
• D) A billing system estimates the fees to be charged to the client for the service based on chargeout rates per billable hour AND a billing system accumulates the amounts that the client is to be charged for the service rather than the costs of the service.

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Definitions:

Executive Function

A set of cognitive processes including attentional control, inhibitory control, working memory, and cognitive flexibility, critical for reasoning and problem-solving.

Association

A connection or link between two units or elements.

Motor Areas

Regions of the brain involved in the planning, control, and execution of voluntary movements.

Cognitive Development

The process through which individuals acquire and develop the ability to think, problem solve, and understand the world around them.