If There Are No Units in Process at the Beginning

question 40

Multiple Choice

If there are no units in process at the beginning of the period then

• A) the company must be using a job order cost system.
• B) only one computation of equivalent units of production will be necessary.
• C) the units started into production will equal the number of units transferred out.
• D) the units to be accounted for will equal the units transferred out and the units in process at the end of the period.

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Definitions:

Restatement of Torts

A set of model legal doctrines in the United States that seek to inform and synthesize tort law, compiled and published by the American Law Institute.

Negligent

Failing to exercise a level of care that a reasonably prudent person would, resulting in harm or damage.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the laws of sales and other commercial transactions across state lines.

Recover Damages

The action of obtaining compensation through legal means for loss or injury.