A system of accounting in which the costs of each process are accumulated and then assigned to the units of product that passed through the process is a:
A) General cost accounting system.
B) Process cost accounting system.
C) Job order cost accounting system.
D) Manufacturing cost accounting system.
E) Goods in process accounting system.

Question

Quizplus · Accepted Answer

The description provided refers to the process cost accounting system where costs are accumulated for each process and then assigned to the units of products that pass through the process. On the other hand, a job order cost accounting system accumulates costs for each individual job or order. General cost accounting, manufacturing cost accounting, and goods in process accounting are not specific systems of accounting, but rather relate to aspects of cost accounting in general.

A System of Accounting in Which the Costs of Each