An accounting system in which costs are assigned to individual projects as the projects proceed through their environment is known as a
A) project accounting system.
B) cost accounting system.
C) managerial accounting system.
D) financial accounting system.

Question

Quizplus · Accepted Answer

A project accounting system assigns costs to individual projects as they progress through their lifecycle, allowing for accurate project cost management and financial reporting. Cost accounting systems focus on the overall costs of the organization rather than individual projects, while managerial accounting systems provide financial information for internal decision-making. Financial accounting systems are used for external reporting purposes.

An Accounting System in Which Costs Are Assigned to Individual