Costing

✅ The correct answer is B.
In specification analysis, assumptions related to linearity states but linearity must be within relevant range.

✅ The correct answer is C.
Costing system, which classify cost into cost categories in a way when an expense is incurred in process is called process costing system. Process costing is a type of operation costing which is used to ascertain the cost of a product at each process or stage of manufacture.

✅ The correct answer is B.
Single or multiple units of distinct services or products are classified as job.

✅ The correct answer is B.
Financial statements and budget plans of some companies are also called preformed statement.

✅ The correct answer is C.
A technique which minimizes sum of squared vertical difference, to determine regression line is considered as least square technique. The least squares method is a form of mathematical regression analysis that finds the line of best fit for a set of data, providing a visual demonstration of the relationship between the data points.

✅ The correct answer is B.
Inter process profits are debited to respective process a/c. Inter process profit represents the value added to the output over its cost, while being transferred from one process to another. Since the value addition is without incurring any cost, it would amount to or result in an amount of profit equal to the value addition.

✅ The correct answer is B.
Difference between budgeted amounts and actual results is classified as variances. Variance is a measurement of the spread between numbers in a data set. The variance measures how far each number in the set is from the mean.

✅ The correct answer is C.
Non-financial and financial aspects of plan by company management, is classified as budget. Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget.

✅ The correct answer is B.
Work measurement method of cost estimation is also called industrial engineering method. Industrial engineering method is a physical way of examining the relationship between cost drivers and costs by analyzing the inputs coming into the company, the outputs that are created, and the work that goes into the process.

✅ The correct answer is A.
Process of tracing direct costs and allocation of indirect costs is known as cost assignment. Cost assignment is the allocation of costs to the activities or objects that triggered the incurrence of the costs.