When a Job or Goods Are Completed

question 76

Multiple Choice

When a job or goods are completed,

• A)its cost is removed from the Work in Process Inventory account and added to Cost of Goods Sold.
• B)the Finished Goods account is debited and the Work in Process Inventory account is credited.
• C)its costs are removed from the Finished Goods account and added to Cost of Goods Sold.
• D)the Cost of Goods Sold account is debited and the Work in Process account is credited.

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Definitions:

Need for Achievement

A psychological trait that drives individuals to pursue and attain challenging objectives.

Avoid Risks

A strategy or approach aimed at minimizing potential losses or negative outcomes by not engaging in actions that are perceived to carry risk.

Working in Teams

The collaborative effort of a group of people to achieve a common goal or complete a task in the most effective and efficient way.

Learned Needs

Needs that are acquired or developed over time as a result of life experiences, cultural exposure, or the influence of social interactions.