Multiple costing is a technique of using two or more costing methods for ascertainment of cost by.a.the several industries.b.the same firm.c.the same industry.d.the several firms.
Question
Multiple costing is a technique of using two or more costing methods for ascertainment of cost by.a.the several industries.b.the same firm.c.the same industry.d.the several firms.
Solution
Multiple costing is a technique where two or more costing methods are used to ascertain the cost. This can be done by:
a. The several industries: Different industries may use multiple costing methods to determine the cost of their products or services. This can provide a more comprehensive understanding of the costs involved in production.
b. The same firm: A single firm may use multiple costing methods for different products or services. This can help the firm understand the cost implications of different production methods or business models.
c. The same industry: Within a single industry, different companies may use different costing methods. This can provide a more accurate picture of the industry's overall cost structure.
d. The several firms: Multiple firms, possibly across different industries, may use multiple costing methods. This can provide a broader understanding of the costs involved in various types of production or service provision.
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