Which of the following statements is (are)true regarding product costing? (A)Individual product costs are relevant for managerial decision-making but irrelevant for preparing the financial statements.
(B)A common decision facing managers is determining the price at which to sell their product or provide their services.
A)Only A is true.
B)Only B is true.
C)Both A and B are true.
D)Neither A nor B is true.

Question

Quizplus · Accepted Answer

Individual product costs are relevant for both managerial decision-making and preparing financial statements. Managers often need to determine the price at which to sell their products or services, making statement B true.

Which of the Following Statements Is (Are)true Regarding Product Costing