Which of the following statements is false?
i. Job costing accumulates costs by jobs or batches.
ii. Process costing accumulates costs by departments or processes.
iii. Process costing accumulates costs for specific time periods.
iv. Job costing accumulates costs by departments.
A) i and ii
B) ii
C) iv
D) iii and iv

Question

Quizplus · Accepted Answer

Job costing accumulates costs by jobs or batches and job costing doesn't accumulate costs by departments. Process costing accumulates costs by departments or processes and accumulates costs for specific time periods. Therefore, statement iii is also true.

Which of the Following Statements Is False