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Which of the following is not correct regarding service firms? Multiple Choice Each client or account is equivalent to a process in a process costing
Which of the following is not correct regarding service firms?
Multiple Choice
Each client or account is equivalent to a process in a process costing firm.
The primary driver used to assign costs is billable hours.
The accounting system will track the time and resources spent serving a specific client or account.
Managers of service firms need cost information to price their services, to budget and control costs, and to determine the profitabi
of clients.
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