Two or more products produced from a common input are called:
A)common costs.
B)joint products.
C)joint costs.
D)sunk costs.

Question

Quizplus · Accepted Answer

Joint products are two or more products derived from a common input, and they have significant sales values compared to the input cost. Joint costs are the costs incurred in producing joint products until the split-off point. Common costs are costs that cannot be traced to any particular product or service, while sunk costs are costs that have already been incurred and cannot be recovered.

Two or More Products Produced from a Common Input Are