All Spoilage in a Process Costing System Is Considered Abnormal

question 85

True/False

All spoilage in a process costing system is considered abnormal spoilage.

---

Definitions:

Assigned

Designated or allocated to someone or something for a specific purpose.

Certificate Of Deposit

A savings certificate entitling the bearer to receive interest after a fixed term deposit matures, with a fixed or variable interest rate.

Time Deposit

A deposit in a bank account that cannot be withdrawn for a preset period of time without incurring a penalty.

Maturity

The date on which a financial obligation must be repaid or the final payment is due.