Affirmative Defenses Are

question 70

Multiple Choice

Affirmative defenses are

• A) the same as denials.
• B) available for only a few types of cases.
• C) defined by substantive law.
• D) defined by procedural law.

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Definitions:

Equivalent Units Of Production

A calculation used in process costing that converts partially completed goods into a number of fully completed units.

Conversion Costs

The combined costs of direct labor and manufacturing overheads incurred to convert raw materials into finished products.

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all units available for sale.

Equivalent Units Of Production

A concept in cost accounting used to allocate costs to partially completed goods, based on the amount of work done on them.