Which costing activity is associated with the financial accounting system?
A)determining the cost of a department
B)determining the cost of goods sold for financial statements
C)preparing budgets
D)determining the cost of a customer

Question

Quizplus · Accepted Answer

Determining the cost of goods sold for financial statements is a crucial activity in financial accounting system as it helps in determining the profit margin and financial position of a company.

Which Costing Activity Is Associated with the Financial Accounting System