Which of the following is the general term used to identify both the tracing and the allocation of accumulated costs to a cost object?
A)Cost accumulation
B)Cost tracing
C)Cost assignment
D)Conversion costing

Question

Quizplus · Accepted Answer

Cost assignment is the general term used to identify both the tracing and the allocation of accumulated costs to a cost object. Cost accumulation refers to the collection of direct and indirect costs in cost accounts. Cost tracing refers to the process of identifying direct costs associated with a cost object. Conversion costing refers to the process of converting raw materials into finished goods.

Which of the Following Is the General Term Used to Identify