Operation Costing Is Appropriate for Products with the Following Characteristics

question 2

Multiple Choice

Operation costing is appropriate for products with the following characteristics.i.Repetitive mass production
Ii) Individual products
Iii) Large batches with repetitive processes
Iv) Some unique features,some common features

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

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Definitions:

Adam Smith

A Scottish economist, philosopher, and author who is considered the father of modern economics, known for his theories on free markets.

John Maynard Keynes

A British economist whose theories on the effects of government spending and total demand influenced modern macroeconomics and government fiscal policy.

Karl Marx

A 19th-century philosopher, political economist, and revolutionary, best known for his critical analysis of capitalism and his advocacy for communism.

Great Recession

A significant global economic downturn that began in 2007 and lasted until 2009, marked by the collapse of the housing market and financial crisis.