Which of the Following Is a True Statement About Process

question 15

Multiple Choice

Which of the following is a true statement about process cost systems?

• A) In process cost systems costs are accumulated but not assigned.
• B) A process cost system has one work in process account for each process.
• C) In process cost systems costs are summarized on job cost sheets.
• D) Unit costs are not computed in process cost systems.

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Definitions:

Mutually Exclusive Codes

Codes in a classification system that categorize information so that each item is assigned to only one category that does not overlap with others.

Combination Code

A system of symbols or numbers used to gain access or unlock something, typically requiring a specific sequence.

ICD-10-CM

The International Classification of Diseases, Tenth Revision, Clinical Modification; a system used by health care providers to classify and code all diagnoses, symptoms, and procedures recorded in conjunction with hospital care in the United States.

Diagnoses

The identification of the nature and cause of a health condition through examination of symptoms and tests.