If at the End of the Fiscal Year, the Variances

question 39

Multiple Choice

If at the end of the fiscal year, the variances from standard are significant, the variances should be transferred to the

• A) work in process account
• B) cost of goods sold account
• C) finished goods account
• D) work in process, cost of goods sold, and finished goods accounts

---

Definitions:

Sanchi

An ancient Buddhist complex in India known for its Great Stupa.

Gandhara

An ancient region located in what is today northwest Pakistan and eastern Afghanistan, known for its distinctive Greco-Buddhist art style that flourished between the 1st century BCE and the 7th century CE.

Yakshis

Mythological female spirit figures associated with fertility and vegetation in Hindu, Jain, and Buddhist traditions, often depicted in ancient Indian art.

Gandharan

Relating to the ancient region of Gandhara, known for its distinct Greco-Buddhist art style that combines Greek artistic techniques with Buddhist subjects.