The best source for determining historical costs is usually:
A) The Internet
B) Interviews with managers
C) The company's accounting information system
D) Financial statements

Question

Quizplus · Accepted Answer

The company's accounting information system is the best source for determining historical costs as it is specifically designed to record and track all financial transactions and expenses, including historical costs. The other options may provide some information but may not be as accurate or comprehensive. Interviews with managers may be biased or incomplete, financial statements may only provide a summary of costs, and the Internet may have unreliable or outdated information.

The Best Source for Determining Historical Costs Is Usually