Two Methods of Accounting for Cost Flows in Process Costing

question 131

Short Answer

Two methods of accounting for cost flows in process costing are ________ and _________.

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Definitions:

M3

A broad measure of money supply that includes M2 (cash, checking deposits, and easily convertible near money) plus large time deposits, institutional money market funds, and other larger liquid assets.

Small Denomination

Currency or securities issued in low nominal values, making them more accessible for small transactions or savings.

Large Denomination

References currency or financial instruments issued in large nominal amounts, often used in high-value transactions.

M2

A measure of the money supply that includes cash, checking deposits, and easily convertible near money, such as savings deposits, money market securities, and other time deposits.