The collection of accounting data in some organized way is:
A)cost accumulation
B)cost assignment
C)cost tracing
D)conversion costing

Question

Quizplus · Accepted Answer

Cost accumulation refers to the systematic collection of accounting data in an organized way. It involves collecting transaction data and organizing it in a manner that is useful for cost analysis and decision-making. Cost assignment and cost tracing are both methods used in cost accumulation. Conversion costing refers to the process of converting raw materials into finished goods and is not directly related to the collection of accounting data.

The Collection of Accounting Data in Some Organized Way Is