Cost Accounting Controls Are Those Related to the Physical Inventory

question 12

Multiple Choice

Cost accounting controls are those related to the physical inventory and the consequent costs from the point at which:

• A) the customer's order is received until the finished product is shipped.
• B) raw materials are requisitioned until the finished product is completely manufactured.
• C) raw materials are requisitioned until the finished product is sent to storage.
• D) materials are ordered for purchase until the finished product is sold.

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Definitions:

Identifying Advantages

The process of recognizing or discovering favorable factors, benefits, or conditions that give an individual or organization a competitive edge.

Disadvantages

Drawbacks or obstacles that reduce effectiveness or hinder progress.

Organizational Structure

The system of rules, roles, and responsibilities within an organization that outlines how activities are directed in order to achieve the organization's goals.

Investigational

Pertaining to the process of conducting systematic inquiry or investigation to discover or examine facts.