Which of the Following Industries Are Likely to Be Using

question 69

Multiple Choice

Which of the following industries are likely to be using process costing?
i. Petroleum
ii. Computer manufacture
iii. Sugar refining
iv. Furniture manufacture

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

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Definitions:

Rules-Based

A system or approach that is guided by a set of established rules or standards.

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board that guide the financial reporting of companies globally.

Rise

An increase in a metric or quantity, often used in financial contexts to indicate growth or upward movement in value.

IFRS

International Financial Reporting Standards, a set of accounting rules prescribed for financial reporting on an international level.