Process of assigning direct or indirect cost to any cost object is known as
A. cost assignment
B. cost expectation
C. event assignment
D. probability assignment
Answer: Option A
Solution(By Examveda Team)
Process of assigning direct or indirect cost to any cost object is known as cost assignment. Cost assignment is the allocation of costs to the activities or objects that triggered the incurrence of the costs.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
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
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