Which of the following statements is are correct-14800
Which of the following statements is/are correct?
This multiple choice question (MCQ) is related to the book/course
vu mgt402 Cost & Management Accounting.
It can also be found in
vu mgt402 Final Term - Quiz No.10.
Which of the following statements is/are correct?
A by-product is a product produced at the same time as other products which has a relatively low volume compared with the other products.
Since a by-product is a saleable item it should be separately costed in the process account,and should absorb some of the process costs.
Cost incurred prior to the point of separation are known as common or joint costs.
A by-product is a product produced at the same time as other products which has a relatively high volume compared with the other products.
