[Solved] Which of the following statement is correct?

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Q.	Which of the following statement is correct?
A.	A joint product is regarded as an important sale-able item, and so it should be separately costed. The profitability of each joint product should be assessed in the cost accounts.
B.	A by-product is not important as a sale-able item, and whatever revenue it earns is a ‘bonus’ for the organisation. Because of their relative insignificance, by-products are not separately costed.
C.	Both A&B are correct
D.	None
Answer» C. Both A&B are correct

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Cost and Works Accounting 2

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