Which One of the Following Methods Will Not Allow You

question 19

Multiple Choice

Which one of the following methods will not allow you to open a new ledger account -

• A)open the chart of accounts icon and proceed to the file menu
• B)open new accounts when finishing the history for the ledger
• C)select create another while still in the general ledger
• D)select the create tool in any ledger window

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Definitions:

Weighted-Average Method

A cost-flow assumption used in inventory valuation and costing, calculating the cost of goods sold and ending inventory based on a weighted average of costs.

Equivalent Unit

A concept used in process costing that represents the amount of work done on incomplete units, expressed in terms of fully completed units.

Weighted-Average Method

An inventory costing method that calculates the cost of ending inventory and the cost of goods sold based on the average cost of all inventory units.

Process Costing System

An accounting method used to assign costs to units of production in industries where the production process is continuous.