Which of the Following Is Not an Account That Over/under

question 62

Multiple Choice

Which of the following is not an account that over/under applied overhead is transferred to at the end of an accounting period?

• A)Cost of Goods Sold.
• B)Work-in-Process.
• C)Raw Materials.
• D)Finished Goods.

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Definitions:

Decimal Equivalent

A numerical value expressed as a decimal, representing the fraction of a whole number.

Percent Equivalent

A value that represents a part of a whole expressed as a percentage.

Compound Interest

A way of determining interest that takes into account the original principal and adds the interest that has been accrued from previous periods.

Compound Interest

Calculation of interest on both the principal amount initially provided or borrowed, plus the interest that has accumulated over earlier periods.