All account names for job costing systems in service organizations are the same as those used by manufacturing companies.

Question

Quizplus · Accepted Answer

While there may be some similarities in the types of accounts used in job costing systems for service organizations and manufacturing companies, the account names may differ depending on the specific type of service being provided. For example, a service organization may have accounts for professional fees, consulting services, or contract labor, which may not be applicable in a manufacturing environment where the focus is on the cost of products and materials. Therefore, the account names used in job costing systems for service organizations may be different from those used in manufacturing companies.

All Account Names for Job Costing Systems in Service Organizations