Which type of business is most likely to use a process costing system?

Name: Which type of business is most likely to use a process costing system?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Process costing is most suitable for industries that involve mass production of homogeneous products or continuous flow of production. Petroleum industry involves refining crude oil into various refined products in a continuous flow of production, making it the most likely business to use a process costing system.

Which Type of Business Is Most Likely to Use a Process