Cost accounting systems focus on when costs are:
A)incurred.
B)locked in.
C)used for setting prices for products and services.
D)paid for.

Question

Quizplus · Accepted Answer

Cost accounting systems focus on when costs are incurred, meaning when the cost is initially generated or accrued. This helps in measuring and analyzing the costs associated with each stage of the production process, identifying areas where costs can be minimized, and optimizing resource utilization. While the other options may have some relevance, they are not the primary focus of cost accounting systems.

Cost Accounting Systems Focus on When Costs Are