Which of the following statements is (are)true regarding product costing? (A)Individual product costs are relevant for managerial decision-making but irrelevant for preparing the financial statements.(B)A common decision facing managers is determining the price at which to sell their products or provide their services.
A) Only A is true.
B) Only B is true.
C) Both A and B are true.
D) Neither A nor B is true.

Question

Quizplus · Accepted Answer

Individual product costs are relevant for both managerial decision-making and preparing financial statements, making statement A false. Statement B is true as determining the price is a common managerial decision.

Which of the Following Statements Is (Are)true Regarding Product Costing