Which of the Following Is an Example of an Industry

question 14

Multiple Choice

Which of the following is an example of an industry in which there are franchises?

• A) Convenience Stores.
• B) Furniture .
• C) Hardware.
• D) Car Dealerships.
• E) All of the above.

---

Definitions:

Process Costing

An accounting methodology that traces and accumulates direct costs, and allocates indirect costs, of a manufacturing process.

FIFO Method

An inventory valuation method that assumes the first items placed in inventory are the first sold or used.

Process Costing

A costing method used in industries where production is continuous, allocating costs to products based on the process they go through.

Assembly Department

A segment of a manufacturing process where components are put together to assemble a final product.