In a Process Costing System,the Journal Entry to Record the Transfer

question 20

Multiple Choice

In a process costing system,the journal entry to record the transfer of goods from Department #2 to Finished Goods Inventory is a

• A)debit Work in Process Inventory #2,credit Finished Goods Inventory.
• B)debit Finished Goods Inventory,credit Work in Process Inventory #1.
• C)debit Finished Goods Inventory,credit Work in Process Inventory #2.
• D)debit Cost of Goods Sold,credit Work in Process Inventory #2.

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Definitions:

Caste System

A traditional social stratification system observed within certain cultures, notably in India, defined by hereditary classes.

Constitutionally Abolished

The formal removal of laws or practices through amendments to a constitution, making them legally invalid.

Social Mobility

An upward or downward change in one's social class position in a stratified society.

Lineally Organized

Structured directly along lines of descent, typically in a family or social group, where relationships are traced through either the maternal or paternal line.