...ACC 350 WK 3 QUIZ 2 CHAPTER 2 STRAYER To purchase this visit here: http://www.activitymode.com/product/acc-350-wk-3-quiz-2-chapter-2-strayer/ Contact us at: SUPPORT@ACTIVITYMODE.COM ACC 350 WK 3 QUIZ 2 CHAPTER 2 STRAYER ACC 350 WK 3 Quiz 2 Chapter 2 - Strayer ACC 350 WK 3 Quiz 2 Chapter 2 1) Products, services, departments, and customers may be cost objects. Answer: 2) Costs are accounted for in two basic stages: assignment followed by accumulation. Answer: 3) Actual costs and budgeted costs are two different terms referring to the same thing. Answer: 4) Accountants define a cost as a resource to be sacrificed to achieve a specific objective. Answer: 5) A cost object is always either a product or a service. Answer: 6) A department could be considered a cost object. Answer: 7) The same cost may be direct for one cost object and indirect for another cost object. Answer: 8) Assigning direct costs poses more problems than assigning indirect costs. Answer: 9) Improvements in information-gathering technologies are making it possible to trace more costs as direct. Answer: 10) Misallocated indirect costs may lead to promoting products that are not profitable. Answer: 11) The materiality of the cost is a factor in classifying the cost as a direct or indirect cost. Answer: 12) The cost of a customized machine only used in the production of a single product would be classified as a direct cost. Answer: 13) Some fixed costs may be classified...
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