Question Details

Costassignmentisoneofthekeyprocessesofthecostaccountingsystem



1.	Costassignmentisoneofthekeyprocessesofthecostaccountingsystem.
a.	True
b.	False


2.	Costisthecashorcashequivalentvaluesacrificedforgoodsandservicesthatareexpectedtobringacurrentorfuturelosstothecompany.
a.	True
b.	False

3.	Thethreemethodsofcostassignmentaredirecttracing,drivertracing,andallocation.
a.	True
b.	False


4.	Assigningcostsaccuratelytocostobjectsisoflowpriority.Accuracyisnotevaluatedbasedonknowledgeof
someunderlying“truecost”.
a.	True
b.	False


5.	Themostpreciseofthethreemethodsofcostassignmentisdirecttracingsinceitreliesonobservablecausalrelationships.
a.	True
b.	False




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