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, while process costing accumulates costs by departments or processes. Both job and process costing can accumulate costs for specific time periods, but job costing does not accumulate costs by departments, making statement iv false. Therefore, the best choice is C - statement iv is false.

Which of the Following Statements Is False