Which of the Following Statements Regarding Work in Process Is

question 38

Multiple Choice

Which of the following statements regarding work in process is not correct?

• A) Work in process is partially completed inventory.
• B) Work in process consists of direct labor, direct material, and manufacturing overhead.
• C) Work-in-Process Inventory is debited to record direct material used and direct labor incurred.
• D) Work-in-Process Inventory appears on the year-end balance sheet.
• E) Work-in-Process Inventory is credited when goods are sold.

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Definitions:

Application Software

The set of programs on a computer that helps a user carry out tasks such as word processing, sending e-mail, balancing a budget, creating presentations, editing photos, taking an online course, and playing games.

Adobe Photoshop

A software application for image editing and photo retouching for use on Windows or MacOS computers, developed by Adobe Systems.

Red Eye

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Digital Audio Workstation

A software application used for recording, editing, and producing audio files.