Cost accounting systems accumulate costs and then assigns them to products or services.

Name: Cost accounting systems accumulate costs and then assigns them to products or services.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cost accounting systems are designed to accumulate costs incurred by an organization and then allocate or assign those costs to products or services offered by the organization. This helps management in determining the cost of production, pricing decisions, and profitability analysis of each product or service.

Cost Accounting Systems Accumulate Costs and Then Assigns Them to Products