All of the following statements about joint costs are true except:
A)Allocation is not necessary when costs are incurred using a joint process.
B)Joint costs are the costs incurred jointly in the production of two or more products.
C)The costs cannot be directly assigned to any one product involved.
D)Joint costs are incurred when making multiple products.

Question

Quizplus · Accepted Answer

Allocation is necessary when costs are incurred using a joint process to determine the cost of each product produced.

All of the Following Statements About Joint Costs Are True