ExamVeda
Login
Home

The ascertainment of costs after they have been incurred is known...

This question belongs to Commerce Costing
Costing
?

The ascertainment of costs after they have been incurred is known as _________.

Answer & Solution
Correct Answer: Option B
The ascertainment of costs after they have been incurred is known as historical costing. In this type of costing system, the costs are ascertained only after they have been incurred.
Examveda
Question posted by Examveda
Community

Join the Discussion

1 Comment
Muhammad Kabir
Muhammad Kabir 5 years ago
I think the answer is sunk cost.
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