Cost Accounting System: Definition & Function

Instructions:

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question 1 of 3

Which of the following is a type of cost accounting system?

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1. Process costing is a method of costing used to assign costs to:

2. What is the general ledger?

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About This Quiz & Worksheet

Use these practice questions to measure what you know about cost accounting systems. You will need to understand sub-accounts to finish this quiz and worksheet.

Quiz & Worksheet Goals

This quiz allows you to demonstrate that you can answer questions about:

  • Types of cost accounting systems
  • Uses of General Ledger sub-accounts
  • What Process Costing assigns costs to

Skills Practiced

Working on this quiz will help you practice study skills such as:

  • Reading comprehension - ensure that you draw the most relevant information from the related lesson on cost accounting systems
  • Defining key concepts - ensure that you can accurately define the General Ledger
  • Information recall - access the knowledge you've gained regarding whether sub-accounts in the General Ledger feed to and from each other

Additional Learning

The lesson entitled Cost Accounting System: Definition & Function is available to help you increase what you know about this topic. You can study this lesson to get more information regarding:

  • How the two traditional cost accounting systems work
  • The importance of the General Ledger
  • An example of how the General Ledger integrates costs
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