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 products or provide their services.
A) Only A is true.
B) Only B is true.
C) Both of these are true
D) Neither of these is true.

Question

Quizplus · Accepted Answer

Individual product costs are relevant for both managerial decision-making and preparing financial statements. However, determining the price at which to sell products or services is indeed a common managerial decision.

Which of the Following Statements Is (Are) True Regarding Product