A cost system determines the cost of a cost object by:

a) Accumulating and then assigning costs

b) Accumulating costs

c) Assigning and then accumulating costs

d) Assigning costse) None of the above

Question

Business

Finley Barber

5 May, 04:18

A cost system determines the cost of a cost object by:

a) Accumulating and then assigning costs

b) Accumulating costs

c) Assigning and then accumulating costs

d) Assigning costse) None of the above

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Answers (1)

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Mike Vazquez · Answer 1

a) Accumulating and then assigning costs

Explanation:

A cost system is a system put in place by management to monitor costs incurred by an entity or cost object. A cost system is a combination of related subsystems which monitors, control and report costs information. In determining the cost of an object a cost system accumulates costs before assigning to cost units.

A cost system determines the cost of a cost object by:a) Accumulating and then assigning costsb) Accumulating costsc) Assigning and then accumulating costsd) Assigning costse) None of the above

A cost system determines the cost of a cost object by:

a) Accumulating and then assigning costs

b) Accumulating costs

c) Assigning and then accumulating costs

d) Assigning costse) None of the above