Q15
The ascertainment of costs after they have been incurred is known as _________.
A.
marginal costing
B.
historical costing
AnswerC.
sunk cost
D.
notional cost
Answer: Option B
Solution
Answer: Option B
Solution:
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.