Asked by Forest Dumont on May 28, 2024
Verified
Before any costing process can occur, it is necessary to identify the cost object.
Cost Object
A cost object is any item for which a separate measurement of costs is desired, including products, services, projects, or activities.
- Identify the importance of determining cost objects in the costing process.
Verified Answer
DD
Danny DaoudJun 01, 2024
Final Answer :
True
Explanation :
Identifying the cost object is the first step in any costing process as it helps to determine the expenses related to a specific item, service, or project.
Learning Objectives
- Identify the importance of determining cost objects in the costing process.