Sunday 24 February 2013

Which of the following statements is true? All organizations incur the same types of costs. Different cost concepts and classifications are used for different purposes. The word "cost" has the same meaning in all situations in which it is used. Costs incurred in one year are always meaningful in the following year. Cost data, once classified and recorded for a specific application, are appropriate for use in any application.

Which of the following statements is true?
 
All organizations incur the same types of costs.
 
Different cost concepts and classifications are used for different purposes.
 
The word "cost" has the same meaning in all situations in which it is used.
 
Costs incurred in one year are always meaningful in the following year.
 
Cost data, once classified and recorded for a specific application, are appropriate for use in any application.
                                        


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