Credit Unions' Assets Primarily Consist Of

question 35

Multiple Choice

Credit unions' assets primarily consist of:

• A)investment securities.
• B)loans to members.
• C)cash and liquid assets.
• D)property,plant and equipment.

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Definitions:

Job-Order Costing

A costing method used to calculate the cost of producing each specific order or job, making it suited for custom, one-off products.

Work In Process

Inventory that includes goods that are in the production process but are not yet completed.

Schedule Of Cost Of Goods Manufactured

A schedule that contains three elements of product costs—direct materials, direct labor, and manufacturing overhead—and that summarizes the portions of those costs that remain in ending Work in Process inventory and that are transferred out of Work in Process into Finished Goods.

Direct Materials Cost

The cost of raw materials that are directly traceable to the production of a specific product or service.