Which of the Following Is an Advantage of Using a Product

question 26

Multiple Choice

Which of the following is an advantage of using a product layout plan?

• A) They do not require specialized equipment.
• B) They can be easily rearranged for new applications.
• C) They can only be used for custom products.
• D) They are inflexible in nature.
• E) Unskilled labor can be utilized.

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Definitions:

Posting

The process of transferring information from the journal to individual accounts in the ledger, which helps in preparing financial statements.

Journal

A book or digital record where all financial transactions of a business are initially recorded before being transferred to specific accounts in the ledger.

Ledger Accounts

Reflects a record of all the financial transactions made by a company, summarized into different categories for reporting purposes.

Accounts Receivable

Amounts owed by customers to an enterprise for goods or services that have been dispatched but not yet reimbursed.