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Commerce · Q65

Costing

Graduate and Post Graduate · Commerce · question 65

Q65

Multiple costing is a technique of using two or more costing methods for ascertainment of cost by _______.

A.
the same firm
Answer
B.
the several firms
C.
the same industry
D.
the several industries

Answer: Option A

Solution

Answer: Option A
Solution:
Multiple costing is a technique of using two or more costing methods for ascertainment of cost by the same firm. Multiple costing, also known as composite costing, is a type of accounting method used when goods are sold that contain several other processed parts, and these parts are costed differently.