In a Job Costing System the Accounting Entry to Record

question 66

Multiple Choice

In a job costing system the accounting entry to record the delivery of job XZY is:

• A) debit cost of sales; credit finished goods
• B) debit work in process; credit profit and loss summary account
• C) debit finished goods inventory; credit work in process
• D) debit cost of sales, credit profit and loss summary

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Definitions:

Genetic

Relating to genes or heredity, often discussing traits or conditions that are passed from parents to offspring.

Socialization

The process by which individuals learn and internalize the values, beliefs, and norms of their society, becoming functional members of that society.

Agents of Socialization

Individuals, groups, or institutions that play significant roles in integrating individuals into the norms, values, and cultures of their society.

Social Approval

The affirmation, acceptance, or endorsement by members of a society or group, often influencing behavior and conforming to societal norms.