Which of the following represents the two basic types of cost accounting systems?

Question

Quizplus · Accepted Answer

The two basic types of cost accounting systems are job-order and process cost systems. In a job-order system, costs are tracked and assigned to specific products or orders, while in a process cost system, costs are accumulated and assigned to each stage or process of production. Therefore, option A is the correct answer. Option B and C are not correct because they both include "job accumulation" or "batch" systems, which are not separate types of cost accounting systems, but rather methods within job-order or process cost systems. Option D is not correct because it includes "batch systems" as a separate type of system, which is not accurate.

Which of the Following Represents the Two Basic Types of Cost