Accounting · Cost Classification
Which of the following statements is the correct definition of a 'cost unit'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A function or location for which costs are ascertained.
- 2A unit of product or service in relation to which costs are ascertained.✓
- 3A section of an organisation for which budgets are prepared and control is exercised.
- 4An activity for which a separate measurement of cost is undertaken.
Correct answer
A unit of product or service in relation to which costs are ascertained.
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