The Steps in Preparing a Trial Balance Include All of the Following

question 10

Multiple Choice

The steps in preparing a trial balance include all of the following except

• A) listing the account titles and their balances.
• B) totaling the debit and credit columns.
• C) proving the equality of the two columns.
• D) transferring journal amounts to ledger accounts.

Identify the accounts involved in the costing process for direct labor, indirect labor, direct materials, and indirect materials.

Understand the flow of costs from work in process to finished goods and then to cost of goods sold upon sale.

Compute total costs to account for and prepare a process cost summary report.

Grasp the concept of equivalent units of production.

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