A T-Account Is

question 32

Multiple Choice

A T-account is

• A)a way of depicting the basic form of an account.
• B)what the computer uses to organize bytes of information.
• C)a special account used instead of a trial balance.
• D)used for accounts that have both a debit and credit balance.

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Definitions:

Capacity

The maximum output that an organization can produce in a given period under normal conditions.

Job-Order Costing

A cost accounting system that accumulates costs per individual job or project to determine its profitability or cost-effectiveness.

Predetermined Overhead Rate

An estimated rate used to allocate overhead costs to products or services, based on a chosen activity base.

Automated Shaper

A machine tool controlled by computers, designed for shaping materials such as metals or wood.