Which of the following is not an objective of product costing systems?
A)To provide information for cost planning
B)To assist in the preparation of the income statement
C)To determine the taxable profits
D)To provide information for product pricing

Question

Quizplus · Accepted Answer

Product costing systems are primarily used for internal decision-making purposes such as cost planning, product pricing, and income statement preparation. However, determining taxable profits is not an objective of product costing systems, as tax regulations and accounting standards may differ from organization to organization and country to country.

Which of the Following Is Not an Objective of Product