One Fundamental Difference Between a Process Chart and a Flowchart

question 174

Multiple Choice

One fundamental difference between a process chart and a flowchart is that:

• A) the process chart adds a time dimension to the horizontal axis, while a flowchart is not time-oriented.
• B) the process chart includes the supply chain, while the flowchart stays within an organization.
• C) the process chart is more like a table, while the flowchart is more like a schematic diagram.
• D) the process chart focuses on the customer and on the provider's interaction with the customer, while the flowchart does not deal directly with the customer.
• E) None of these is true, because a process chart and a flowchart are the same thing.

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Definitions:

Work in Process Inventory

The value of partially completed goods that are still in the production process at a given point in time.

Underapplied Overhead

The situation where the allocated manufacturing overhead is less than the actual overhead incurred, leading to an adjustment need in accounting records.

Adjusting Entry

An accounting journal entry made to amend the preliminary financial records before preparing financial statements.

Manufacturing Overhead

Indirect costs related to manufacturing, including utilities, rent for manufacturing facilities, and equipment maintenance, not directly tied to individual units produced.