What Type of Endorsement Is Illustrated by the Following Example

question 72

Multiple Choice

What type of endorsement is illustrated by the following example: Pay to the order of
Mike Lopez
Isis Love
1681-77-75-4

• A) Restrictive endorsement
• B) Full endorsement
• C) Blank endorsement
• D) Signature endorsement

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Definitions:

Total Cost Transferred

The aggregate expense shifted from one account or department to another, often used in manufacturing to denote the total cost moved from work in process to finished goods.

Processing Department

A specific unit within a manufacturing facility where a certain process or set of processes is carried out to advance the production of goods.

Units Transferred Out

In process costing, this refers to the finished units that are moved out of a production process to the next process or to finished goods inventory.

Processing Department

A division within a manufacturing facility where a specific stage of production is carried out.