Which of the Following Statements Is True

question 21

Multiple Choice

Which of the following statements is true?

• A) There will be many different jobs on a job-order cost sheet.
• B) Direct labor is allocated to jobs along with overhead using a cost driver.
• C) Work-in-process consists of all complete work.
• D) Time tickets are used to post the cost of direct labor to individual jobs.
• E) None of these.

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Definitions:

Admission Exception

A principle in evidence law that allows certain statements that would normally be considered hearsay to be admissible as evidence in court.

Statute of Frauds

A legal concept that requires certain types of contracts to be executed in writing and signed by the party to be charged, in order to be enforceable.

Secondary Promises

Commitments made by a third party to assume responsibility for another's debt or obligation if the original party fails to perform.

Statute of Frauds

An established legal doctrine stipulating some contractual arrangements need to be formalized in writing and authenticated by the signatures of all parties for enforceability.