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Which of the following statements is correct? Multiple choice question. Product costing concepts are used in manufacturing and merchandising companies, but not service firms. Service

Which of the following statements is correct? Multiple choice question. Product costing concepts are used in manufacturing and merchandising companies, but not service firms. Service firms and nonprofit organizations need information about the cost of producing services. Product costing is only used for manufacturing firms. Nonprofit organizations have no need for product costing concepts.


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