ExamVeda
Login
Home

Collection of cost data according to accounting system in an organized...

This question belongs to Commerce Costing
Costing
?

Collection of cost data, according to accounting system in an organized way is classified as

Answer & Solution
Correct Answer: Option C
Collection of cost data, according to accounting system in an organized way is classified as cost accumulation. Cost accumulation involves the use of a formal cost accounting system to collect cost information.
Examveda
Question posted by Examveda
Community

Join the Discussion

No comments yet Be the first to discuss this question.
Keep Learning

Related Questions on Costing

Basic objective of cost accounting is ________
A. tax compliance. B. financial audit. C. cost ascertainment. D. profit analysis.
Process costing is suitable for ________.
A. hospitals B. oil refing firms C. transport firms D. brick laying firms
Cost classification can be done in ________.
A. two ways B. three ways C. four ways D. several ways
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost B. historical cost C. sunk cost D. shutdown cost
More Related Questions on Costing