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The following statements refer to organisations that use service costing: (i) The service provided will...

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Accounting

The following statements refer to organisations that use service costing: (i) The service provided will be a homogenous product. (ii) The cost of materials is relatively small compared to labour, expenses and overheads. (iii) A problem with service costing is the difficulty in defining a realistic cost unit. (iv) Inventory levels are generally high in-service costing industries. Which of the above statements are correct

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