Which of the following products would be most affected by the one-unit cost concept:

Which of the following is a reason why a job order costing system is appropriate for a custom furniture manufacturer?

A) The cost incurred for each job will differ as per the order specifications. B) The direct costs incurred for each job are the same, only indirect costs vary. C) The raw materials used have already been accounted for using process costing. D) Custom furniture manufacturers produce large quantities of similar products.

The Financial Accounting Standards Board (FASB) issues new Generally Accepted Accounting Principle (GAAP) rules and amends existing ones

Indicate whether the statement is true or false