The two most common types of costing systems are:
A) Process and transfer costing systems.
B) Job-order and process costing systems.
C) Job-order and direct costing systems.
D) Process and standard costing systems.

Question

Quizplus · Accepted Answer

The two most common types of costing systems are job-order costing, which is used to track the cost of producing unique, customized products, and process costing, which is used to track the cost of producing large quantities of identical items. Therefore, option B - Job-order and process costing systems - is the correct answer.

The Two Most Common Types of Costing Systems Are