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Accounting
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28 Nov 2019

Goods in process accounting system.Process cost accounting system.Manufacturing cost accounting system.Job order cost accounting system.General cost accounting system.

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Hubert Koch
Hubert KochLv2
16 Mar 2019
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Related questions

The two basic types of cost accounting systems are:

a. Job order and batch system

b. Process cost and batch system

c. Job order and process cost system

d. Job order and job accumulation system

Ā 

Which of the following best describesthe difference between financial and managerial accounting?

Managerial accounting provides information to support decisions,while financial accounting does not.

Managerial accounting is not restricted to generally acceptedaccounting principles (GAAP), while financial accounting isrestricted to GAAP.

Managerial accounting does not result in financial reports whilefinancial accounting does result in financial reports.

Managerial accounting is concerned solely with the future anddoes not record events from the past, while financial accountingrecords only events from past transactions.

2. For which of the following wouldthe job order cost system be appropriate?

Manufacturer of individualized golf equipment

Rubber manufacturer

Crude oil refinery

Coal mining

3. For which of the followingbusinesses would the process cost system be most appropriate?

Custom jewelry manufacturer

Car rental agency

Crude oil refinery

Small engine repair shop

What is a cost accounting system? Why is a cost accounting system important for a business? A business without a cost accounting system cannot effectively manage its operations. Give an example of how a company you are familiar with costs its products or services.

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