Question

joint products are products that are sold to customers as a set or as part of a group of products ,

true or false ?

Answer 1

The answer is False.

The Joint products are a set of products that are a resultant from a common input and a single production process. They basically have the same raw materials, but the outputs are different. For example:- Milk used as an input would give various products like cheese, butter, cream, and diesel, gasoline, etc. While the outputs are different, the common input and the production process with respect to these Joint products are the same.

As such, it is not necessary that these products are sold to customers as a set or a part of a group of products. These can be sold individually to the customers also since they are capable of being further processed based on the output being desired. As such, the above statement is FALSE.