Selected Accounts with Some Amounts Omitted Are as Follows

question 55

Multiple Choice

Selected accounts with some amounts omitted are as follows If the balance of Work in Process at October 31 is $21,000, what was the amount of factory overhead applied in October?

• A) $63,300
• B) $21,300
• C) $42,300
• D) $11,300

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Definitions:

Misrepresentation

A false statement of fact made by one party to another, which has the effect of inducing that party into entering a contract.

Remedies

Legal measures or actions available to a party to enforce a right or redress a harm.

Fraudulent Misrepresentation

A false statement made knowingly or recklessly intended to deceive the other party, leading to a contract or agreement being voidable.

Innocent Misrepresentation

A false statement made honestly and without the intent to deceive, which may lead to the voiding of a contract if relied upon by the other party.