The Flow of Costs in a Job Order Cost System

question 139

Multiple Choice

The flow of costs in a job order cost system

• A) involves accumulating manufacturing costs incurred and assigning the accumulated costs to work done.
• B) cannot be measured until all jobs are complete.
• C) measures product costs for a set time period.
• D) generally follows a LIFO cost flow assumption.

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Definitions:

Personal Attributes

Characteristics or qualities that define an individual's personality and behavior.

Fundamental Attribution Error

Overestimates internal factors and underestimates external factors as influences on someone’s behaviour.

Self-Serving Bias

Self-serving bias explains personal success by internal causes and personal failures by external causes.

Performance Appraisal

Is the process of formally evaluating performance and providing feedback to a job holder.